Alternative bank directors can't sit on committees

The Bangladesh Bank (BB) in a circular yesterday slapped the restrictions on the private banks following allegation of negligence and irregularities against the appointed alternative directors.

There are about 50 alternative directors at different private banks, sources said.

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As per the Company Act, a bank can appoint an alternative director if a director stays abroad for more than three months.

The circular also ordered the banks to report to the BB in details about the visit of directors.