20Apr
05Mar
BSEC grants extension to 13 companies for ensuring regulatory compliance of 30% shareholder requirement
Summary: The Bangladesh Securities and Exchange Commission (BSEC) directed listed firms to ensure 30% shareholding by sponsors and directors. Non-compliant firms, including Active Fine Chemicals and Central Pharmaceuticals, face scrutiny. The commission appointed independent directors to six firms and granted a year for 13 others to...
05Mar
BB states that weak banks are likely to experience mergers and acquisitions.
Summary: It has been 52 years since a bank in Bangladesh has closed and the assurance is that none will close soon. However, weaker banks that are facing problems may consider mergers and acquisitions (M&A) to strengthen their capital base, as per the Bangladesh Bank. The...
05Mar
Extension granted until 2029 to enjoy duty-free as WTO member amidst challenges
Summary: At the 13th WTO Ministerial Conference in Abu Dhabi, Bangladesh successfully negotiated a three-year extension of duty-free market access following its graduation to a developing nation in 2026. Supported by 166 WTO members, this extension ensures continued access to LDC-specific technical assistance and capacity-building programs....
05Mar
Tightening of the Appointment & Dismissal rules of bank’s MDs
Summary The new regulations mandate banking managing directors or CEOs to have 20 years of experience, aged 45-65, with a three-year tenure, requiring Bangladesh Bank approval for appointments. To ensure governance and depositor protection, candidates are interviewed by central banks and then assessed by a committee....
05Mar
Bar on family members of independent directors from owning bank share
Summary: The Bangladesh Bank has mandated that independent directors in banks must be aged between 45 and 75 and cannot have family members holding shares in the bank. Any complaints proven against them will result in actions taken by the Bangladesh Bank under the Bank Company...
05Mar
Large companies are being advised by NBR to resolve their tax disputes using ADR
Summary The specialized unit for large taxpayers of the National Board of Revenue has recently advocated for alternative dispute resolution (ADR) as a means of resolving tax-related disputes for large corporations in the country. The unit has emphasized that opting for ADR can lead to a...
05Mar
Physical presence of chairman & MD mandatory at AGMs, decision taken by BSEC
Summary The regulatory body of the stock market has made it compulsory for a listed company to have at least 25% of its board members, including the chairman and managing director, physically present at the general meeting. This is to ensure that the company is accountable...
05Mar
A new initiative has been introduced by the U.S. Attorney in Manhattan, which aims to promote more self-disclosure.
Summary The U.S. attorney for the Southern District of New York has announced an initiative. The pilot program launched by the U.S. Attorney’s Office in Manhattan aims to provide individuals with an incentive to report and cooperate with authorities to prosecute criminal conduct. Content The U.S. Attorney’s Office...
05Mar