Bangladesh Bank yesterday withdrew its previous instructions for holding meetings of banks virtually as a part of austerity measures taken during the Covid-19 pandemic in 2020.

Earlier on May 17, 2020, the central bank issued a circular asking banks to hold their meetings of boards, executive committees, audit committees and risk management committees through video conference or hybrid processes.

This was to prevent the spread of Covid-19 as well as a part of austerity measures to save power and fuel.

As the pandemic has receded, the central bank has withdrawn its previous instruction on holding meetings virtually, according to a circular of Bangladesh Bank.

However, foreign directors of banks which are not fully owned by Bangladeshis can join the meetings of their boards or affiliated executive committees online, it said.