The central bank has asked the foreign commercial banks (FCBs) not to keep vacant the posts of their local chief executive officers (CEOs) for more than consecutive three months, officials said.
The Bangladesh Bank (BB) issued a circular in this connection Wednesday and asked the CEOs of all scheduled banks to comply with the relevant section of the Banking Companies Act, 1991 properly.
"Both foreign and local commercial banks will have to comply with the existing rules and regulations for ensuing good governance in the country's banking sector," a BB senior official told the FE.
He said the central bank issued the directive aiming to clarify the relevant section of the Banking Companies Act, particularly the foreign banks operating in Bangladesh.
Besides, the FCBs will have to apply for work permits, issued by the Board of Investment (BoI), to the Banking Regulation and Policy Department (BRPD) of the central bank for final approval to appoint foreign nationals as local CEOs.
The BB's latest move came against the backdrop of a FCB which applied to the central bank seeking final approval of its foreign national CEO without submitting work permit, the BB official added.
Currently, nine FCBs are running their businesses in Bangladesh.
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BB sets 3-month deadline for FCBs to appoint local CEOs
FE Report | Published: February 26, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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