BRPD Circular Letter No. 54: Signature of CEOs/Managing Directors of banks in the statements/reports for regular submission to the Central Bank

Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. Ref No: BRPD-Circular-54 03 November 2020

BRPD Circular Letter No.-54 Date: ----------------- 18 Kartik 1427

Managing Director/Chief Executive Officer All Scheduled Banks operating in Bangladesh

Dear Sir,

Regarding the signature of the Chief Executive Officer/Managing Director in statements/reports for regular submission to the Central Bank by banks.

Banks regularly submit various statements/reports to different departments of the Central Bank. Among these, it is required that the signature of the Chief Executive Officer/Managing Director be present on certain important statements/reports, which has been communicated to banks through the Bank Companies Act/Circulars/Circular Letters/Letters. However, banks have informed in various meetings that it is often not possible to submit statements/reports to the Central Bank within the specified time due to the absence of the Chief Executive Officer. Furthermore, since the instructions regarding the submission of certain statements/reports with the signature of the Chief Executive Officer/Managing Director are quite old, they are not currently known to the incumbent officers.

2. In this context, it is informed that according to BRPD Circular No.-09 dated: 31 December 2008, DOS Circular Letter No.-10 dated: 09 May 2017, DOS Circular Letter No.-01 dated: 09 January 2018, SFD Circular No.-01 dated: 22 April 2020, SFD Circular No.-02 dated: 30 April 2020, SFD Circular No.-01 dated: 15 January 2018, FSD Circular No.-01 dated: 24 September 2012, and Section 38 of the Bank Companies Act, 1991 (amended up to 2018), the instructions regarding the mandatory signature of the Chief Executive Officer/Managing Director in statements/reports submitted to the Central Bank must be followed correctly.

3. Furthermore, according to the instructions of the letter No. D.S.B.S-4(1)/2018-2173 dated 25 November 2018 of the Statistics Department, the aforementioned statements must be submitted with the signatures of two officials, including the Chief Executive Officer, or with the signatures of two officials including the second-highest ranking official in the absence of the Chief Executive Officer. Additionally, other statements/reports must be submitted to the Central Bank with the signatures of two responsible officials in accordance with Section 36(3) of the Bangladesh Bank Order.

4. These instructions will come into effect immediately.

5. These instructions are issued under the powers conferred by Section 45 of the Bank Companies Act, 1991.

Yours faithfully,

(Md. Nazrul Islam) General Manager Phone: 9530252