DOS Circular Letter No. 37: Time limit to bring down excess investment in Capital Market

50119

Bangladesh Bank
(Central Bank of Bangladesh)
Head Office
Motijheel, Dhaka-1000
Bangladesh.

Department of Off-Site Supervision

4 Poush, 1429
Date: -------------------
19 December, 2022

DOS Circular Letter No.-37

Managing Director / Chief Executive Officer
All Scheduled Banks operating in Bangladesh.

Dear Sir,

Regarding the provision of time limit to bring down excess investment in Capital Market within the prescribed limit.

After the issuance of DOS Circular Letter No.-30 by Bangladesh Bank on 4 August, 2022, it has been decided to provide time until 31 December, 2023 for those banks which have excess investment (in terms of aggregate or individual shareholding in any other company by the bank) in the capital market based on 31 August 2022, in accordance with Sub-section (1) of Section 26K of the Bank Companies Act, 1991 and DOS Circular Letter No.-07/2014, to bring down such excess investment to the prescribed limit.

2. A copy of the notification issued in this regard is enclosed herewith for the information of all concerned.

Enclosure: 01 (One).

Yours faithfully,

(Signature)
(Md. Abdul Mannan)
Director (DOS)
Phone: 9530314

Phone: 88-02-9550448, 9554896, IP: 88-02-56665001-6, Fax: 88-02-9530499, www.bb.org.bd

*

Department of Off-Site Supervision
Bangladesh Bank
Head Office
Dhaka.

Notification

4 Poush 1429
No-DOS(RMMMSMS)1154/161/2022-6367 Date: ------------------- 19 December 2022

In exercise of the powers conferred under Section 121 of the same Act, it has been decided to provide time until 31 December 2023 for all banks which have excess investment (in terms of aggregate or individual shareholding in any other company by the bank) in the capital market based on 31 August 2022, in accordance with Sub-section (1) of Section 26K of the Bank Companies Act, 1991 (Act No. 14 of 1991) and DOS Circular Letter No.-07/2014, after the issuance of DOS Circular Letter No.-30 by Bangladesh Bank on 4 August 2022, to bring down such excess investment to the prescribed limit.

(Signature)

(A.K.M. Sazedur Rahman Khan)
Deputy Governor
Bangladesh Bank