Regulatory Alerts2024-05-21
Added
DFIM Circular Letter No. 18: Formation of Sub-Committee of the Board of Directors of Finance Company and their functions
The document clarifies that the Audit Committee of finance companies shall execute the Corporate Governance Program established by the Bangladesh Securities and Exchange Commission, with Audit Committee decisions subject to subsequent Board approval. It specifies that matters regarding the appointment, duties, remuneration, and benefits of directors, independent directors, managing directors, and principal executive officers are instead governed by DFIM Circular Letters No. 01, 02, and 03, along with any subsequent related circulars. These instructions are issued under the authority granted by Section 41(2)(d) of the Finance Company Act, 2023.
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