Regulatory Alerts2021-03-31
Added
DOS Circular Letter No. 10: Waiver of the section 33 of the Bank-Company Act, 1991 to Padma Bank Limited.
The Department of Off-Site Supervision of Bangladesh Bank issues a notification granting Padma Bank Limited a waiver from the requirement to maintain easily realizable assets under Section 33 of the Bank-Company Act, 1991. This exemption applies to the period from October 31, 2017, to December 31, 2019. The circular directs all scheduled banks operating in Bangladesh to take necessary action regarding this notification.
Bank of Bangladesh (Controlling Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh
Department of Off-Site Supervision DOS Circular Letter No. 10 Date: 17 Chaitra 1427 31 March 2021
To: Chief Executive Officers / Managing Directors All Scheduled Banks operating in Bangladesh.
Dear Sir,
Regarding the waiver granted to Padma Bank Limited from the provisions of Section 33 of the Bank-Company Act, 1991.
A copy of the Notification No. DOS(SR)/1153/120-A/2021-1559 issued by Bangladesh Bank on 31 March 2021 on the above subject is enclosed herewith for your information and necessary action.
Yours faithfully,
Enclosure: 01 (One) page.
(Md. Anwarul Islam) General Manager Phone: 9530093
Bank of Bangladesh Department of Off-Site Supervision Head Office, Dhaka.
No: DOS(SR)/1153/120-A/2021-1559 Date: 17 Chaitra 1427 31 March 2021
Notification
In exercise of the powers conferred by Section 121 of the Bank-Company Act, 1991 (Act No. 14 of 1991), and after consultation with the Government, Bangladesh Bank hereby grants exemption to Padma Bank Limited (formerly The Farmers Bank Limited) from the obligation to maintain easily realizable assets (ERAs) specified in Section 33 of the said Act for the period from 31 October 2017 to 31 December 2019.
(A. K. M. Sajedur Rahman Khan) Deputy Governor Bank of Bangladesh