Enactment of M&A Law

Tuesday, 12 October 2021

I am writing in response to your editorial, dated October 3, 2021, on the enactment of the merger and acquisition (M&A) of banks in Bangladesh.
I remember back in 2004 to 2006, I worked as a support lawyer in CBSP (Certified Blockchain Security Professional), Legal Counsel, Bangladesh Bank for a law firm. It was a project funded by the World Bank. Its aim was to strengthen many components including legal matters involving the central bank. It was jointly awarded to three law firms including Gide LoyretteNouel of France, Fox Mondol of India, and A Hossain & Associates of Bangladesh.
Then, I had the opportunity to work with the team of international lawyers. I remember among many other major assignments, we extensively worked on drafting 'Guidelines for Merger/Amalgamation of Banks/Financial Institutions'. Since it was drafted more than 15 years ago, and hardly used, it did not receive the attention it deserved. In my view, it is a high quality, comprehensive guide drafted within the parameter of the existing laws, taking into account practical aspects involving the banking sector and M&A in the country. I hope the guideline will receive its due attention.
Mohammed Forrukh Rahman,
Lawyer, Dhaka,
[email protected]