Regulatory Alerts2016-10-16
Added · Updated
DFIM Circular Letter No. 04: Audit Objection on Washing and Special Allowances of Employees of State Owned Financial Institutions
The Ministry of Finance’s Audit Division and the Banking and Financial Institutions Division object to the payment of washing allowances and special benefits to employees of state-owned and specialized commercial banks, ruling that such payments are not permissible. Consequently, these institutions are directed to recover any excess amounts already disbursed, with installment recovery permitted if necessary. This directive applies to all state-owned financial institutions and specialized commercial banks in Bangladesh.
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