Regulatory Alerts2014-11-03
Added · Updated
BRPD Circular No. 15: Significant Shareholders of a Bank-Company
Holding more than five percent of equity interest in a bank-company requires prior approval from Bangladesh Bank under section 14Kha of the Bank-Company Act, 1991. Intending significant shareholders must submit Form-1 through the bank-company, while existing significant shareholders must submit Form-2 within one month. Custodial services providers are exempt from prior approval for collective shareholdings exceeding five percent, though individual customer holdings above this threshold still require approval. Misreporting or concealing facts is liable for fines up to taka 100,000 and imprisonment for up to three years.
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