Dhaka, Bangladesh (BBN)– The central bank of Bangladesh has asked its observers to work efficiently for bringing a positive change in 15 banks and non-banking financial institutions (NBFIs) within the shortest possible time.
The instructions were given at a meeting of the observers held at the central bank headquarters in Dhaka on Sunday with Bangladesh Bank (BB) governor Dr. Atiur Rahman in the chair.
The central bank doesn’t want that its senior officials are appointed as observers to the banks or NBFIs in the long run, a senior official of the BB official told BBN after the meeting.
He also said the BB is providing logistic supports to the observers for carrying out their responsibilities properly.
The central bank earlier appointed the observers to help improve financial health of the commercial banks and NBFIs by ensuring good governance and expediting recovery of non-performing loans (NPLs).
The observers have also been assigned to oversee the risk management, internal control and compliance (ICC), internal auditing and human resources development of the banks and NBFIs concerned.
The observers are empowered to attend policymaking meetings, including those of board of directors, executive committee and audit committee, of the banks and NBFIs to oversee their activities.