BB extends deadline to bring down excessive investment in the capital market
BI Report || BusinessInsider
Bangladesh Bank headquarters is seen in Dhaka. Photo: File
Bangladesh Bank has extended one more year for the commercial banks to disinvest the fund that exceeded legal ceiling to invest in the country’s capital market.
This instruction was issued by the Department of Off-Site Supervision of Bangladesh Bank on Monday.
As a result, the banks, which have made excess investment in the capital market, will get time to come to the permissible level till December 31, 2023.
Earlier on November 7, a notification signed by Jehad Uddin, Deputy Secretary to the Ministry of Finance clarified the extension of the deadline. Now the Central Bank has issued a circular to this end.
The circular is equally effective for the banks holding the shares---collective or individual--- of other companies exceeding the permissible limit, BB said.
