The Banking Company Act (Amendment), (Bangladesh) 1993
This document presents the Banking Company Act (Amendment), 1993, that amends the previous Act of 1991 in Bangladesh. It makes amendments to the following aspects of the law:
- Definition of a depositor;
- Replacement of the term "modareka" with "mudaraba";
- Definition of paid-up and reserve fund;
- Restrictions on buying shares of a bank;
- Correction of misprinted terms;
- Substitution of more appropriate phrases or terms;
- Amendment to the article that deals with the management of a banking company;
- Insertion of a new section on special audit on any of the activities of a banking company as deemed necessary by the Bangladesh Bank.
Further, the document reinforces the application of amendments proposed by the Banking Company (Amendment) Ordinance, 1993 through this Act.