BB asks banks not to hold hybrid meetings

Bangladesh Bank (BB) on Wednesday stopped holding hybrid meetings in banks, citing the absence of Covid-19 and significant improvements in the country's power and energy situation.

Hybrid meetings involve both in-person and remote participants, with remote attendees joining through virtual platforms like zoom, while in-person participants gather in a dedicated room.

The central bank had initially permitted hybrid meetings in 2020 during the peak of the Covid-19 pandemic. The facility was later extended due to power shortages and as part of austerity measures.

In a circular issued by the Banking Regulation and Policy Department (BRPD) on the day BB stated that given the current situation where Covid-19 is no longer prevalent and power and energy conditions have improved, there is no justification for continuing hybrid meetings in banks.

Concerns have been raised about some bank board members living abroad and frequently joining meetings via mobile devices.

Despite their limited participation, these board members receive an honorarium of Tk10,000 and other benefits as bank sponsors.

Previously, BB allowed hybrid meetings for various purposes, including board of directors' meetings, risk management meetings, audit meetings, and executive meetings.

However, this repeal does not apply to board members who are foreigners, who will still be permitted to attend meetings via videoconferencing while abroad.

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