'Hybrid meeting' cancelled, board meeting must be attended in person

The central bank has canceled the meeting of the 'hybrid' method in the domestic commercial banks. From now on, the directors must have 100% physical presence in the bank's board or board's subsidiary committee meetings.

On Wednesday (September 18), the Bangladesh Bank Banking Regulations and Policy Department gave this instruction. It said that the 'hybrid' method of meetings had been ordered during the outbreak of the Corona virus, but now that the outbreak of the Corona virus has come down significantly in the country, this directive has been cancelled.

However, foreign directors in banks that are not 100% domestically owned can participate online in the meetings of the board of directors and the subsidiary committees of the board. The directive has been issued under the powers conferred by Section 45 of the Bank Companies Act, 1991, which the Central Bank has asked to be implemented immediately.

Meanwhile, Sheikh Hasina left the country after resigning from the post of Prime Minister on August 5 in the face of the unforgettable coup of students. Through this, 16 consecutive years of Awami League's unprecedented misrule and arbitrariness came to an end. Awami League leaders, including former ministers, state ministers, MPs and public representatives, have gone to Gaon-Dhaka during the change in the political landscape of the country. Many fled abroad. Many of them are directors of various banks. For them, this instruction is an ominous sign. Because even if they want, they will not be able to sit abroad or participate in the board meeting of the bank from an unknown place – said a related official of the central bank.

He said, according to the rules, no bank director is allowed to be absent from the board meeting for three consecutive months. According to the Bank Act, if a director stays abroad for at least 3 months continuously, the board of the bank can appoint his substitute director.