Make Bank Company (amendment) Act public: TIB

The Transparency International Bangladesh (TIB) has called upon the government to make the draft of the Bank Company (Amendment) Act - 2023 open for the public.

The anti-graft watchdog came up with the call in a press release on Thursday, reports UNB.

The draft has been prepared in response to the long-standing demand for reforms of Bangladesh's banking sector.

The TIB said despite informing the media on 28 March that the draft amendment has been approved in the cabinet committee, questions have surfaced whether the draft law has protected the interest of the people as a whole, including an effective way to overcome the widely discussed challenges of the bank sector.

TIB executive director Iftekharuzzaman said, “When the draft of the law was approved in the cabinet committee about a month ago, we expected that the draft would be published for the views and suggestions of the concerned stakeholders as per the practice followed by the present government."

But the draft has not yet been made public, he added.

Media reports show that when the IMF's visiting mission asked to see the draft, the financial institutions division expressed inability on the grounds of privacy protection, which has shocked us, the release read.

“Therefore, we urge the government to publish the draft immediately and create adequate opportunities to take the views of the concerned stakeholders,” it said.