DFIM Circular Letter No. 27: Participation in Board of Directors and Support Committee meetings virtually

Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh. Ref No.: DFIM/Reg/27 DFIM Circular Letter No.-27 To: Managing Director / Chief Executive Officer All Finance Companies operating in Bangladesh.

Dear Sir,

Regarding participation in Board of Directors and Support Committee meetings via virtual mode.

Reference is invited to DFIM Circular Letter No.-08 dated May 15, 2023, on the subject mentioned above. Through the said Circular Letter, considering the importance of meetings and the need for physical presence to ensure economy in institutional expenditure and efficient use of electricity and fuel, instructions were issued to hold meetings of the Board of Directors and Support Committees of Finance Companies in hybrid mode.

2. Considering the current situation, the aforementioned Circular Letter is hereby withdrawn. It is advised that meetings be organized with the physical presence of all concerned to ensure active and effective participation of directors in the meetings of the Board of Directors and Support Committees of Finance Companies and to keep the regular operations of the institution running properly.

3. However, foreign directors of Finance Companies that are not 100% domestically owned may participate in the meetings of the Board of Directors and Support Committees via virtual mode.

4. These instructions are issued under the powers conferred by Section 41 of the Finance Company Act, 2023, and shall take effect immediately.

Yours faithfully,

(Md. Asaduzzaman Khan) Director (DFIM) Phone: 9530178. Date: 24 September 2024 Department of Financial Institutions and Markets