BB sets minimum age for bank directors

Bangladesh Bank has set 30 as the minimum age for a person to become a bank director - a step that goes with the Bank Company (Amendment) Act, 2023.

The central bank announced this in a circular on the formation of the board and responsibilities of directors of a bank-company on Sunday.

Previously, there was no age limit for becoming a bank director.

Taking advantage of this, some banks appointed directors who are as young as 22 years old, local media reported quoting sources.

To qualify as a bank director, the BB said in the circular, a person must have at least 10 years of experience in management, business, or their respective profession.

And that experience must exclude any gained before the age of 18, it clarified.