The act would have allowed former owners to regain control of weak banks after their merger.
Finance Minister Amir Khosru Mahmud Chowdhury. Photo: TBS
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Finance Minister Amir Khosru Mahmud Chowdhury. Photo: TBS
Finance Minister Amir Khasru Mahmud Chowdhury today (29 June) announced that the government has decided to scrap Section 18(a) of the Bank Resolution Act, 2026, which would have allowed former owners to regain control of weak banks after their merger.
Speaking at the national parliament during the debate on the proposed budget for the next fiscal year, the minister said the decision had been taken following feedback from various stakeholders.
“The government has decided to repeal Section 18(a) based on the opinions of different stakeholders,” he said.
He added, “Our message is clear. Those who have looted people’s assets will not be given any concessions. At the same time, the deposits of customers will be fully protected.”
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