Bank Company Act-1991

Bank Company Act-1991

 Amendments to the Bank Companies Act, 1991
The Government has decided to bring amendments to the Bank Companies Act 1991 by the Bank Companies (Amendment) Ordinance 2007. Major tightening measures are expected. Highlights of the new ordinance are:

 Changed definition of default loans
    Maximum number of Board of Directors is 13 and their tenures are two three-year terms;
 A family having above 5% shares would be entitled to have not more than two directors on the board and a family having less than 5% shares would be able to hold one post of director, Total amount of capital increased from Taka. 1 billion to Taka. 2 billion;
    Duration of overdue period of loans reduced from six months to three months;

 

http://bdlaws.minlaw.gov.bd/bangla_pdf_part.php?id=751

1. Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972)
2. Bank Company Act, 1991
3. Bank Company (amendment) Act, 2013
4. The Negotiable Instruments Act, 1881
5. The Bankers’ Book Evidence Act, 1891
6. Foreign Exchange Regulations Act, 1947
7. Financial Institutions Act, 1993
8. Bank Deposit Insurance Act, 2000
9. Money Loan Court Act, 2003
10. Micro Credit Regulatory Authority Act, 2006
11. Money Laundering Prevention Act,2012   [Bangla]   [English]
12. Anti-terrorism Act, 2009 and
13. Anti Terrorism (Amendment) Act, 2013