Banking Finance & Insurance

In Bangladesh, banking, finance, and insurance sectors are regulated by various laws and regulations. Here is an overview of key laws related to banking, finance, and insurance in Bangladesh:

Banking:

1. Bank Company Act, 1991: This act regulates the establishment, operation, and management of banks in Bangladesh. It covers aspects such as licensing requirements, capital adequacy, governance, risk management, and reporting obligations for banks.

2. Bangladesh Bank Order, 1972: This order establishes the Bangladesh Bank as the central bank of Bangladesh. It grants the Bangladesh Bank the authority to regulate and supervise the banking sector, including issuing monetary policy, maintaining stability in the financial system, and overseeing payment and settlement systems.

3. Negotiable Instruments Act, 1881: This act governs the use and negotiation of negotiable instruments, such as promissory notes, bills of exchange, and cheques. It provides legal provisions for transactions involving negotiable instruments and liability for dishonor of such instruments.

Finance:

1. Financial Institutions Act, 1993: This act regulates non-bank financial institutions (NBFIs) in Bangladesh. It covers aspects such as licensing, capital requirements, governance, risk management, and reporting obligations for NBFIs, including leasing companies, investment companies, and insurance companies.

2. Money Laundering Prevention Act, 2012: This act aims to prevent money laundering and terrorist financing in Bangladesh. It provides a legal framework for anti-money laundering measures, including customer due diligence, reporting of suspicious transactions, and penalties for offenses related to money laundering.

Insurance:

1. Insurance Act, 2010: This act provides the legal framework for the regulation and supervis