JS passes Bank Company (Amendment) Act 2018

The Jatiya Sangsad today passed the "Bank Company (Amendment) Bill, 2018" amid walk out of the opposition and independent lawmakers.

The act passed with a view to bringing some changes in the process of nomination to the top positions of the bank and tenure of the directors.

But the opposition and independent lawmakers led by its chief whip Tajul Islam walked out of the parliament opposing the bill and urged the Finance Minister AMA Muhith to withdraw the bill and sent it to the committee of eliciting public opinion.

They also said the act will not safeguard the banking sector.

Finance Minister Abul Maal Abdul Muhith moved the bill in the House, BSS adds.

Placing the bill, he said it has been proposed that four members of a family instead of existing two can be inducted in the board of directors of a bank at a time, and a person can hold the post of a director of a bank for nine years continuously instead of current three years, reports the state-run news agency.

The bill would bring changes for fulfilling a long-run demand of the private bank owners particularly the promoters, the minister said.

Later, the House passed the bill with voice votes with Deputy Speaker M Fazley Rabbi Miah in the chair.

Besides, Industries Minister Amir Hossain Amu proposed the “Bangladesh Small and Cottage Industries Corporation Bill, 2016” to withdraw from the House under the rule 93 of the Rules of Procedure of the Jatiya Sangsad.