TIB urges government to make Bank Company (Amendment) Act-2023 open for all

The Transparency International Bangladesh (TIB) on Thursday urged the government to make the draft of the Bank Company (Amendment) Act, 2023 open for public which has been prepared in response to the long-standing demand for reforms of Bangladesh‍‍`s banking sector.

Despite informing the media on March 28, 2023 that the draft amendment law 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, said the organisation in a press release on Thursday. 

TIB Executive Director Dr. 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.

Even 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 press release reads.

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