Banks asked to clearly mention dissent in meeting minutes

Bangladesh Bank (BB) has asked banks to clearly mention any dissenting or differing opinions expressed by board members in the minutes of meetings of the boards of directors and supporting committees.

The central bank yesterday issued a notice in this regard to enhance transparency and accountability in the activities of boards of directors of banks and their supporting committees.

The banking regulator said many banks are failing to properly record "notes of dissent" in meeting minutes, and in several cases, discussions on agendas and the opinions of board members are not accurately reflected.

To address this, the regulator said any differing opinion, observation, or dissent raised by directors on agenda items presented during board or committee meetings must be clearly included in the meeting minutes.

All observations and recommendations discussed during board or committee meetings must be properly documented, it added.

If any director submits a "note of dissent", it must be fully recorded in the minutes, stated the notice, adding that if any observer from Bangladesh Bank is present during the meeting, their observations must also be documented.

It was also mentioned that other relevant instructions from previous circulars will remain unchanged.

The directive will come into effect immediately, read the notice.