DFIM Circular Letter No. 01: Submission of Minutes of the Board of Directors, Executive Committee & Audit Committees' meetings

Department of Financial Institutions and Markets Bangladesh Bank Head Office Dhaka. 02 Falgun, 1419

DFIM Circular Letter No.-01 Date: -------------------- 14 February, 2013

Managing Director / Chief Executive All Financial Institutions operating in Bangladesh

Dear Sir,

Regarding the submission of minutes of meetings of the Board of Directors, Executive Committee and Audit Committees.

In this regard, the following instructions are hereby issued, replacing Instruction 5(c) of DFIM Circular Letter No.-06 dated 07/02/2010 and DFIM Circular No.-13 dated 26/10/2011:

1. Minutes of meetings of the Board of Directors, Executive Committee and Audit Committees must be submitted to this department within 05 (five) days from the date of the meeting.

2. The minutes must be signed by the Chairman of the respective meeting. However, if the Chairman is unable to sign due to being outside the country or for any other reasonable cause as per Instruction No. 1, the Company Secretary shall submit the minutes to this department after obtaining a certificate. The Company Secretary shall ensure through such certificate that the minutes were presented to the Chairman (via e-mail or any other medium) and that the Chairman has approved the minutes.

In this context, other instructions of DFIM Circular No.-13 dated 26/10/2011 shall remain unchanged.

These instructions are issued in the public interest under Section 18(c) of the Financial Institutions Act, 1993.

These instructions shall take effect immediately.

(A.K.M. Amzad Hossain) Deputy General Manager Phone: 9530249