RegAlert

Rule · BB · 20 Dec 2023

DFIM Circular No. 14: Determination of the number of directors in finance companies against holding of shares by foreign shareholders.

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The Bangladesh Bank has decided that the maximum number of foreign shareholders serving as directors on the Board of Directors of any finance company operating in Bangladesh shall be determined in proportion to their shareholding in that company. This decision is made under the power conferred by Section 15(1) of the Finance Company Act, 2023.

BangladeshBangladesh Bank

Bangladesh Bank
Head Office
Motijheel, Dhaka-1000
Bangladesh
Website: www.bb.org.bd
Department of Financial Institutions and Markets DFIM Circular No. 14 Date:

Managing Director/Chief Executive
All Finance Companies operating in Bangladesh.

Dear Sir,

Regarding the determination of the number of directors in finance companies against shares held by foreign shareholders.

Attention is drawn to Section 15(1) of the Finance Company Act, 2023, regarding the subject mentioned in the title.

  1. By virtue of the power conferred by the said section of the Act, it has been decided that the maximum number of foreign shareholders, i.e., the number of directors, on the Board of Directors of any finance company shall be determined in proportion to their shareholding in that company.

Yours faithfully,
(Md. Asaduzzaman Khan)
Director (DFIM)
Phone: 9530178
Poush 05, 1430
December 20, 2023

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Finance Company Act, 2023Not in RegAlertFinance Company Act, 2023 — Not in RegAlertDFIM Circular No. 14:Determination of the number o…2023-12-20 · this documentDFIM Circular No. 14: Determination of the number of directors in finance companies against holding of shares by foreign shareholders. (2023-12-20)
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  • Finance Company Act, 2023Not in RegAlert

    “Attention is drawn to Section 15(1) of the Finance Company Act, 2023, regarding the subject mentioned in the title.”

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