DSE Proposes ATB Reforms for Enhanced Trading

The Payment and Settlement System Act, 2024, now in effect, enables Bangladesh Bank to pursue legal action against Nagad Limited over alleged operational irregularities. A gazette notification issued by the Financial Institutions Division formalized the legislation, granting certain clauses retrospective effect from August 12, 2023.

The Bangladesh Bank has relaxed the $10,000 foreign currency limit for individuals injured during the July-August mass uprising seeking treatment abroad. Authorized dealers of commercial banks can now release foreign exchange based on medical estimates, with transactions permitted through both traditional banking and international card channels.

Bangladesh Bank (BB) has updated its stress testing guidelines to enhance the banking sector’s resilience by requiring banks to disclose information on both their portfolios and those of their subsidiaries. The revised rules also clarify the roles and responsibilities of senior management and board directors, areas previously lacking clear guidance. Banks must now take preventive actions in adverse economic scenarios and assess risks related to credit, market, operational, and liquidity factors.

Bangladesh Bank has aligned its recruitment policy with a recent government ordinance, raising the maximum age limit for entering jobs at non-bank financial institutions (NBFIs) to 32. Previously, the age limit for such positions was 30. This change comes after the Ministry of Law, Justice, and Parliamentary Affairs issued an ordinance extending the age limit for direct recruitment in government jobs and related institutions, including autonomous, semi-autonomous bodies, and public corporations, to 32 years.

The Bangladesh Securities and Exchange Commission (BSEC) has extended the deadline for brokerage firms to install uniform, un-editable back-office software from approved vendors until April 2025. The new deadline follows a request from the Dhaka Stock Exchange Brokers Association and allows brokers an additional four months to comply. Failure to install the software by May 1, 2025, will result in the suspension of operations, punitive actions, and the loss of dividends, IPO quotas, and branch expansion privileges.

Bangladesh Bank has issued the "Special Regulations, 2024," allowing local banks to appoint international consulting firms to conduct comprehensive, risk-based assessments of their financial health.