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Banks should reduce excessive costs: BB

FE Report | August 21, 2019 00:00:00


Scheduled banks will have to inform with estimated cost to the central bank before 10 working days if they want to arrange board of directors' meeting outside of the capital.

The Bangladesh Bank (BB) issued a circular in this connection on Tuesday and asked the chairmen and the chief executives of all scheduled banks to follow such instruction properly.

"We've taken such measure to reduce excessive expenditure of the banks," a BB senior official told the FE while explaining the main objective of the circular.

He further said the central bank also advised the banks to reduce opening new branches through expansion of agent banking network along with establishing less expensive banking both.

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