Regulatory Alerts2009-10-14
Added · Updated
BRPD Circular No. 12: Operation of Merchant Banking by Banking Companies
Banking companies in Bangladesh must constitute a separate subsidiary company to conduct merchant banking operations and transform existing wings into such subsidiaries by January 2010. Banks require prior approval from Bangladesh Bank to establish these subsidiaries and to extend loans to companies where the subsidiary holds 15% or more of shares. Subsidiaries are prohibited from buying shares in companies where the parent bank, its directors, or their family members serve as directors. Parent banks must include separate and consolidated financial statements in their reports in conformity with Bangladesh Accounting Standard-27.
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