Bangladesh lifts liability on independent directors for loan defaults to boost finance company governance.

The Central Bank of Bangladesh has announced that independent directors of finance companies will no longer be held responsible for loan defaults, encouraging more professionals to take on these roles. Previously, independent directors, who do not hold shares, were considered defaulters if the company failed, deterring skilled individuals from serving. This new rule aims to improve governance within finance companies by making the role more attractive.

2 months ago
4 Articles