bdnews24.com :
Any individual or institution willing to hold directly or indirectly five percent shares or more in any commercial bank will now require permission from Bangladesh Bank to do so.
The central bank on Monday asked those who already control 5 percent shares or more in any bank to inform it within a month.
Bangladesh Bank officials say several banks have more than two members from the same family on their boards. It wants more information about them.
Moreover, the central bank wants to ensure that the commercial banks’ shares are not monopolised by a single person or a single family or an institution.
Shareholders will have to apply on specific forms, which have been sent to banks along with Monday’s circular.
The rule would apply to buying or owning five percent or more shares of a bank either individually or jointly, the circular said.
As per law, an individual or a family or an institution can own a maximum of 10 percent shares of a bank. More than two members of a family cannot be on the board of the same bank.
A Bangladesh Bank official said boards of several private banks had over two members from the same family.
“We issued them letters asking why the boards were not constituted in keeping with the law.
“They replied that they were on the boards as shareholders and not as members of the same family. But many of those who occupy such positions do not have enough income to buy the shares.
