Bangladesh Bank formulates new regulations for banking assessment

Bangladesh Bank has introduced new regulations, titled "The Special Regulations of Bangladesh Bank, 2024," to conduct a comprehensive review of the country’s banking sector.

The goal is to identify issues within the banking system and implement reforms to maintain trust, stability, and long-term sustainability, the central bank said in a statement on Sunday.

As part of the regulations, which take effect immediately, Bangladesh Bank will appoint an International Consulting Firm (ICF) to conduct the review, the BB noted.

The assessment will ensure the findings are reliable and accepted by all stakeholders, including international organizations, it added.

Bangladesh Bank has in writing notified the managing directors and chief executive officers of all banks in the country about the new regulations.