Bangladesh Bank has extended time till October 30 for three banks to comply with the board rules.
It took the decision yesterday following the appeal of the banks including National Bank, City Bank and Premier Bank, said a senior executive of the central bank.
Only the First Security Islami Bank has complied with the board rules, he said.
Earlier on October 12, the central bank through a letter asked the four private banks to bring down the number of their directors coming from the same family to a maximum two.
The banks faced a similar notice in July, but did not act on it.
According to the bank company act, 2013, one year after the amended law came into effect in July 2013, the banks’ board cannot comprise more than two members of a single family.
National Bank has five directors from a family while City Bank nine directors from two families - five from its Chairman Rubel Aziz’s family and four from its Director Deen Mohammad’s family.
