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The Bangladesh Bank (BB) on Monday made it mandatory for the chief executive officers and managing directors of all non-bank financial institutions (NBFIs) to obtain the central bank’s approval for trips abroad.
The central bank also instructed the chief executives of NBFIs to avoid staying abroad for longer periods.
In a notice, the BB said that if the CEOs and managing directors of financial institutions stay abroad for longer period on official purpose or personal leave, there is a risk of financial loss, including management and operational risks, which is not desirable.
From now on, in case of essential visits, the chief executives of NBFIs will have to file applications to the central bank 15 days prior to any scheduled visit along with specification of the purpose.
The BB notice said that the name, designation, mobile phone number and e-mail address of the official who will act as in-charge on behalf of the chief executive must be submitted to the BB’s concerned department if the application for foreign trip is approved.
In March last year, the central bank made it mandatory for the chief executive officers and managing directors of all the scheduled banks to obtain the prior approval of BB for foreign tour.
