Regulatory Alerts2024-08-27
Added · Updated
DFIM Circular Letter No. 26: Appointment and Responsibilities of Managing Director/Chief Executive Officer of a Finance Company
The circular amends paragraph 13 of DFIM Circular No. 03 (dated March 25, 2024) to allow the Managing Director or Chief Executive Officer of a finance company to travel abroad without prior Bangladesh Bank approval if such travel is essential and authorized by the Board of Directors in accordance with the company's own overseas travel policy. The MD/CEO must provide written notice to the Official Institution and Market Department at least ten days before departure, including the name, designation, official phone, mobile number, and email address of the officer designated to assume responsibilities during their absence. This directive is issued under Section 41 of the Finance Company Act, 2023, and takes effect immediately.
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