Regulatory Alerts2015-11-24
Added · Updated
DOS Circular No. 02: Investment in Special Purpose Vehicle, Alternative Investment Fund or Similar fund/funds by the scheduled bank
Scheduled banks in Bangladesh are permitted to invest in non-listed special purpose funds registered with the Bangladesh Securities and Exchange Commission, subject to a maximum aggregate investment limit of Tk. 2 billion per bank. Prior to making any firm commitment, banks must obtain permission from the Department of Off-site Supervision by submitting a board resolution and prescribed financial information. Banks must also execute an agreement with the fund's trustee to prohibit investments in related parties, the bank's own securities, or other financial institutions, and submit this agreement with the permission application. These investments are excluded from the capital market investment category under section 26Ka of the Bank-Company Act, 1991, and the policy takes immediate effect.
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