The Cabinet has given final approval to the draft of the Bank Companies (Amendment) Act 2023 with the provision that no more than three directors can be from one family.

The information was disclosed by the Secretary of the Cabinet Department (Coordination and Reforms) Mahmudul Hassan on Tuesday (March 28) after a meeting of the Cabinet Committee held at Prime Minister's Office in the capital.

He said currently, there can be four directors from a family. This has now been changed to a maximum of three.

At the same time, family members will not be given loans without collateral, he added.

BDST: 1701 HRS, MAR 28, 2023
MSK/SMS