Regulatory Alerts2011-07-24
Added · Updated
DFIM Circular No. 05: Increase in minimum paid up capital of the financial institutions
Bangladesh Bank amends the Financial Institutions Regulations, 1994, raising the minimum paid-up capital for locally registered financial institutions to BDT 100 crore and requiring foreign-registered companies to maintain this amount or the risk-based minimum capital, whichever is higher, as a reserve fund in Bangladesh. Institutions with a capital shortfall must fill the gap by June 30, 2012, are prohibited from paying cash dividends until the shortfall is resolved, and must immediately amend their Memorandum and Articles of Association accordingly.