BB asks NBL board to act on inspection reports properly

The central bank has asked the board of directors of National Bank Limited (NBL) to comply with its inspection reports properly.
The instruction was given at a board meeting held at Simanta Square in the capital Monday with NBL director Parveen Haque Sikder in the chair.
The BB also advised the board for taking necessary measures to avoid similar mistaken in future.
"We've discussed the annual inspection reports of the Bangladesh Bank (BB) at the meeting," Shamsul Huda Khan, acting managing director of the NBL, told the FE without elaborating.
The BB appointed newly observer to the private commercial bank (PCB) along with others central bank officials, who were involved with the bank's head office inspection also attended at the meeting.
Earlier on October 8 last, the central bank appointed Kazi Sayedur Rahman, general manager of the Forex Reserve and Treasury Management Department of BB, as an observer to the PCB for improving financial health through strengthening its monitoring and supervision.
The observer is empowered to attend policy making meetings including board of directors, executive committee and audit committee of the bank to oversee their functions.

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