Regulatory Alerts2022-06-15
Added
BRPD Circular No. 12: Regarding involvement of bank directors and their related organizations in the procurement activities of goods, services etc of bank company
The circular prohibits any director of a scheduled bank or any organization with a conflict of interest from participating in the bank's procurement activities for goods and services. This directive is issued to prevent conflicts of interest under Section 18 of the Bank Company Act, 1991, and to ensure the equality of interests among all customers. Banks are required to immediately present this circular at their next Board of Directors meeting and take necessary actions to ensure compliance.
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