Business laws and regulations of Bangladesh
Non-Banking Financial Institution can now hold board meeting, executive committee meeting or audit committee meeting through video conference if necessary while their chairman or any director are staying outside Bangladesh. However, they must obtain prior approval of Bangladesh Bank.
Bangladesh Bank through a circular being number DIFM Circular No. 05 dated April 18, 2016, introduced this restriction.
Non-banking financial institutions (FI) can now invest in the non-listed special purpose funds (e.g. Alternative Investment Fund, Special Purpose Vehicle, or any other similar fund) which are registered with Bangladesh Securities and Exchange Commission (BSEC). Through DFIM Circular No.04 dated 30 March 2016, Bangladesh Bank allows such investment.
On November 24, 2015, Bangladesh Bank issued a similar circular allowing the commercial banks to invest in such funds.
FI should follow the following guideline while investing in the non-listed special purpose funds:
1. The aggregate investment in such funds made by any FI shall not exceed 50 percent of its paid up capital.
2. The investment in such a single fund made by any FI shall not exceed 10 percent of its paid up capital or 20 percent of that particular fund, whichever is lower. [Read more…] about NBFI can invest in Alternative Investment Fund – Bangladesh Bank
Through DOS Circular No. 02 dated 24 November, 2015, Bangladesh Bank introduces the new rules.
The rules applicable to investment in non-listed special purpose fund/funds (Special Purpose Vehicle, Alternative Investment Fund or similar, stated as such fund(s) henceforth) which are registered with Bangladesh Securities and Exchange Commission (BSEC).
According to the rules, scheduled banks will abide by the following conditions while investing in the above mentioned fund(s) –
1) The total investment in such fund(s) made by any scheduled bank shall be limited up to Tk. 2 (Two) billion. [Read more…] about Bangladesh Bank introduces new rules for investment in Alternative Investment Fund by banks
The much awaited amendment is here folks. Finally the Parliament has passed the Foreign Exchange Regulation (Amendment) Act, 2015 and on September 9, 2015, the gazette has been published.
Let’s take a look what has changed and how you might be affected.
From now on Foreign Exchange Regulation will be applicable to virtually all persons living in Bangladesh irrespective of their nationality except foreign diplomatic representations or accredited officials of such representations located within Bangladesh and offices of organizations established by international treaty located within Bangladesh.