Regulatory Alerts2022-12-19
Added
DOS Circular Letter No. 37: Time limit to bring down excess investment in Capital Market
The document grants scheduled banks in Bangladesh until December 31, 2023, to reduce excess investments in the capital market to the prescribed limits. This extension applies to banks identified with excess holdings as of August 31, 2022, following DOS Circular Letter No. 30 issued on August 4, 2022. The decision is made under Section 26C(1) of the Bank Companies Act, 1991, and DOS Circular Letter No. 07/2014.
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.
- 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