bdnews24.com :
Foreign banks operating in Bangladesh will not be able to keep vacant the position of their local chiefs for more than three months at a stretch.
The central bank issued a circular giving this directive on Wednesday.
The circular said the provision of the Bank Company Act, 1991, stipulated that a bank could not keep its chief executive officer’s position vacant for over three months and this would be applicable to all foreign banks operating in Bangladesh.
It also asked the foreign banks to seek permission from the BB’s Banking Regulation and Policy Department in case they appointed foreign nationals as their chiefs in Bangladesh.
They need to submit necessary papers including work permits from the Board of Investment.
Foreign banks operating in Bangladesh will not be able to keep vacant the position of their local chiefs for more than three months at a stretch.
The central bank issued a circular giving this directive on Wednesday.
The circular said the provision of the Bank Company Act, 1991, stipulated that a bank could not keep its chief executive officer’s position vacant for over three months and this would be applicable to all foreign banks operating in Bangladesh.
It also asked the foreign banks to seek permission from the BB’s Banking Regulation and Policy Department in case they appointed foreign nationals as their chiefs in Bangladesh.
They need to submit necessary papers including work permits from the Board of Investment.
