Regulatory Alerts2025-01-14
Added
BRPD Circular No. 01: Taking Prior Approval of Bangladesh Bank to Appoint Alternate Director in Bank Companies
This circular mandates that scheduled banks in Bangladesh must obtain prior approval from Bangladesh Bank before appointing an alternate director, particularly when a director is absent abroad for three consecutive months or more. An appointed alternate director is prohibited from performing duties or attending board or committee meetings without this specific approval. The directive is issued under the powers granted by Section 15AAA(3) of the Bank Companies Act, 1991, and takes immediate effect.
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