Staff Reporter
Bangladesh Bank yesterday asked commercial banks to raise their capital to Tk 200 crore by June 2009, in compliance with the Bank Company (Amendment) Act, 2007.
The banks will have to increase half of the capital of Tk 100 crore by June 2008 and the rest by June 2009, said a circular issued yesterday.
The Council of Advisers in July last, approved the draft of the Bank Companies (Amendment) Ordinance 2007 updating the Bank Companies Act 1991 in order to streamline the banking sector. [Read more]