Bank MDs, CEOs no longer required prior approval to travel abroad
The order will come into effect immediately, cenbank says
The Bangladesh Bank has announced that managing directors (MD) and chief executive officers (CEO) of both state-owned and private banks will no longer require prior approval to travel abroad.
According to a circular issued by central bank's Banking Regulation and Policy Department (BRPD) today (22 August), bank MDs and CEOs are now required to notify the BRPD (Division-2) in writing at least 10 working days before their departure.
They must include the name, designation, office phone number, cell phone number, and email address of the officer who will assume responsibility during their absence.
The circular further stated that however, separate approval from the central bank is no longer required for MDs and CEOs to travel abroad.
The order will come into effect immediately, it added.
A cenbank senior official told The Business Standard that whether a bank MD seeks approval from the central bank for foreign travel does not hold significant importance.
"If the MD send the details of the officer in charge on time during his/her absence, that is sufficient. When the matter was presented to the governor, he approved it.
"If there are any restrictions on the foreign travel of any bank MD, there are separate government agencies to look into that," the official added.