& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

BB moves on merchant banking

Commercial banks directed to set up subsidiaries

Rejaul Karim Byron
Bangladesh Bank has directed commercial banks to form separate subsidiaries to operate any merchant banking.
The move is meant to uphold the interest of depositors, Bangladesh Bank said in a circular to commercial banks yesterday.
"The subsidiary companies to be formed under a bank for merchant banking must follow rules and regulations issued by the Securities and Exchange Commission," the central bank said.
"A bank will have to take permission from Bangladesh Bank to set up a subsidiary company for merchant banking," the circular added.
The subsidiary company will not
be allowed to purchase in its own portfolio or in customer accounts any share of a listed company where the directors of the subsidiary or its parent company or their family members are involved.
According to the circular, the banks - already in merchant banking - will have to turn their units into subsidiaries by January 2010.
Prime Bank, AB Bank, EXIM Bank, Trust Bank, Janata Bank, Southeast Bank and Standard Bank have merchant banking wings. Besides, Sonali Bank and Agrani Bank have merchant banking licences.
A subsidiary will have to attach its own financial report in the annual financial statement of its parent company.
If a subsidiary company seeks to purchase more than 15 percent
shares in any company with loans from its parent bank, it will have to take approval from Bangladesh Bank.
The Bangladesh Bank circular said many banks in merchant banking are violating rules under the Banking Companies Act.
The law says that no commercial bank can hold shares whose value exceeds 30 percent of its paid-up capital.
But some banks are not following this rule. Bangladesh Bank has advised the banks to properly follow the rule.
Some banks have been accused of getting involved in irregularities, which were later discovered by the central bank in its investigations.
A Bangladesh Bank official said the central bank had issued a policy guideline.