Tuesday, June 25, 2024


Dhaka Tribune

Banks asked not to allow outsiders in board meeting

Update : 26 Dec 2013, 06:20 PM

Bangladesh Bank has issued a circular yesterday to the banks asking them not allow any non-members at their board meetings.

The central bank also asked the banks not to provide any additional privileges to the directors.

After the allegations that non-members, shareholders and outsiders were attending board meetings in the recent time, the regulator issued the circular.

Apart from the directors, the meeting can be attended by managing directors and company secretaries only.

Besides, other officers can be present at the meeting on call of the board or associate committee to place any matter related with his or work only for the time required for the presentation.

Bangladesh Bank advised the banks to ensure that no external person, shareholder or non-member attends any board and associate committee meetings at any situation. Further, the regulator has found some of the banks were providing financial privileges more than specified in the rules.

As per sub-section 18 of Bank Company Act 1991, directors will not get any financial benefits or other facilities more than specified by rules for attending board meetings.

The central bank advised the banks to follow the rules strictly.  

Top Brokers


Popular Links