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Govt to amend Bank Company Act

  • Published at 09:07 pm June 13th, 2019
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Finance Minister AHM Mustafa Kamal revealed this in the proposed budget placed in parliament on Thursday

The government will bring necessary amendments to the ‘Bank Company Act’ to modernize the functions of holding and subsidiary companies.

Finance Minister AHM Mustafa Kamal revealed this in the proposed budget placed in parliament on Thursday, reports BSS.

The government has initiated and implemented various activities for the reformation and development of banking, capital market, insurance and other financial sectors, the finance minister’s budget speech read.

As per the budget speech, the government is thinking of various reforms, including increasing capital (authorized and paid up) of banks gradually and bringing down the interest rates of bank loans to a single digit with a view to making the industries and businesses more competitive.