Written by The Banking Post
In a move to enhance transparency and accountability in the banking sector, the Bangladesh Bank (BB) has made it mandatory for all commercial banks to clearly document all opinions, observations, and notes of dissent expressed during board and committee meetings.
The central bank issued a circular on Monday, stating that the directive would take immediate effect. The measure aims to ensure that decisions made at the highest level of bank governance are properly recorded and reflect the diverse views of board members.
“Many banks fail to properly record ‘notes of dissent’ and omit discussions and differing opinions in the meeting minutes,” the circular stated. “Henceforth, all opinions, observations, or dissent expressed by directors during meetings must be explicitly included in the official minutes.”
If any board member submits a formal “note of dissent,” it must be fully incorporated into the meeting records. Additionally, if a representative from the Bangladesh Bank is present as an observer, their comments must also be recorded.
A senior BB official, requesting anonymity, said the instruction is expected to promote better discipline and transparency in board-level decision-making. “There have been instances where loan proposals were passed despite objections from some directors. This directive will now ensure that such objections are properly documented.”
The central bank also clarified that other directives from previous circulars on board operations will remain unchanged.
Lobbying for Promotion in Banks Declared ‘Professional Misconduct’
In a separate move, the government has introduced a significant reform by categorising lobbying for promotions within banks and financial institutions as professional misconduct.
The provision has been incorporated into two newly issued promotion policies—one for six state-owned commercial banks and the other for six specialised banks and two financial institutions.
This is the first time such a clause has been officially included in promotion criteria for bank employees.
According to the new policy, which will come into effect in 2025, promotions will be based strictly on merit, service record, educational qualifications, efficiency, training, integrity, and seniority. Candidates lacking a bachelor’s degree will not be eligible for promotion.
Furthermore, any candidate with adverse remarks in their Annual Confidential Report (ACR), those convicted in departmental or criminal cases, or anyone with ongoing criminal proceedings will be disqualified from promotion consideration.
The policy applies to employees in the ranks of Deputy General Manager (DGM), Assistant General Manager (AGM), Senior Principal Officer (SPO), Principal Officer (PO), and senior officers.
The latest measures, by both the central bank and the government, underscore a growing emphasis on professionalism and governance in Bangladesh’s financial sector.
