The Bangladesh Bank has introduced stricter rules for appointing bank directors, setting the minimum age at 30 years and requiring a monthly payment of Tk 50,000 to independent directors. This aligns with the Bank Company (Amendment) Act, 2023, mandating directors to have 10 years of relevant experience and prohibiting involvement in criminal activities or financial misconduct. Independent directors must serve for three years, with limitations on consecutive terms. Directors’ honorariums and meeting fees are capped, and individuals associated with canceled licenses or loan defaults are ineligible. Family members are limited to three director positions, with tenure extended to 12 years. The policy aims to enhance governance, ensuring competent and ethical leadership in banking operations to safeguard depositors’ interests, as per the central bank’s directives.
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