BB asks banks not to allow non-members in board meet

November 13, 2020 10:05:11

| Updated:

November 13, 2020 17:35:16

The central bank has asked all the scheduled banks to prohibit non-members from attending meetings of their board and board committees whatever the circumstance is, officials said.

“We’ve issued the warning after finding that non-members, including shareholders or outsiders, were present in the meetings of both the board and committees of some banks, defying the rules,” a senior official of the Bangladesh Bank (BB) told the FE.

He also said executive, audit and risk management committees comprise the board of directors.

“Managing directors and company secretaries of the banks are allowed to attend board meetings.”

The central bank issued a circular in this connection on Thursday, and asked chairmen and chief executive officers of the banks for taking necessary measures to stop the presence of non-members in their board and board committee meetings.

The BB earlier asked the banks to bar non-directors from attending meetings of board and board committees under any situation to protect depositors’ interest.

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