Razu Howlader Palash

It is often seen that top management of the private banks and/or non-bank financial institutions (NBFIs) dismiss, terminate, remove or release their Managing Directors (MDs)/Chief Executive Officers (CEOs) at will.

In Bangladesh, bankruptcy is governed by the Bankruptcy Act, 1997. An individual can be declared ‘bankrupt’ through an order of adjudication by the bankruptcy court if he commits an act of bankruptcy as described in section 9 of the said Act.

Every year budget comes mainly focusing two areas – revenue and expenditure for the nation.