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GUIDELINESTOESTABLISHA BANKINGCOMPANYINBANGLADESH

GUIDELINESTOESTABLISHABANKINGCOMPANYINBANGLADESH AccordingtoSection31oftheBankingCompaniesAct,1991,nocompanyshall carry out banking business in Bangladesh without obtaining a license from Bangladesh Bank. Bangladesh Bank will decide to grant licenses after considering the need and overall strategy congenial to effective monetary and financial sector policy for the country. Bangladesh Bank must be satisfied that the following terms and conditions for the establishment of a new banking companyinBangladeshhavebeenmet: 1. Statusofthenewcommercialbank. 1.1 MustbeapubliclimitedcompanyincorporatedinBangladesh. 2. Paidupcapitalrequirementforabanktobeestablished: 2.1 ThepaidupcapitalofnewcommercialbankshallnotbelessthanTaka 400.00 Crore as required under Bank Company Act 1991. The share capitalwillbeformedwithordinarysharesonly. 3. Modeofpayment: 3.1 For a banking company incorporated in Bangladesh, the capital contribution made by the sponsors and subscribers of the proposed bankshallbeinaliquid,unencumberedform(suchascashorapproved securities),heldinabankaccountthathasbeenverifiedbyBangladesh Bank,andunderaBangladeshBanklien. 4. Sponsorsandsharecapitalcontribution: InitialminimumcapitalTaka400.00croreshallbeprovidedbysponsorsofthe proposedbank. 4.1 Thebankshallissuepublicshareswithinthree(3)yearsfromthedateof commencement of the banking business. Public issues shall be at least equaltosponsors'shareamount. 4.2 The minimum shareholding stake of each sponsor shall be Taka 1.00 croreandthemaximumshallbe10%oftheproposedbankstotalshare capital. This ceiling of 10% applies to an individual, company or family member,eitherpersonally,jointlyorboth.Familyisdefinedherewith to include spouse, father, mother, son, daughter, brother, sister of the individualoranyonedependentonthatindividual. 4.3 Theceilingof10%mayberelaxedinthecaseofabanksetupasajoint venturewithaforeignfinancialinstitutionorbankingcompany.

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4.4 Sponsors holding 5% or more shares shall have to sign a capital

maintenance agreement (CMA) stating that they would, jointly and severally inject additional capital if the bank ever fell below any minimum capital requirement. In case of failure to inject such capital within the stipulated time, the responsibility would fall on individuals within the sponsors group to bear the entire burden of the required injection. yearsfromthecommencementofthebusiness,withoutpermissionfrom BangladeshBank.

4.5 Thesponsors'sharesshallnotbetransferredwithinaperiodofthree(3)

4.6 Sponsors'contributiontotheequitycapitaloftheproposedbankwillbe

required to be out of net worth declared to the Tax authorities in form IT10B;contributionoutofborrowingsfrombankornonbankfinancial institutionshallnotbeacceptable.
4.7 If an individual or any member of his/her family is or had been a loan

defaulter with a bank/financial institution at any time during the past five years shall not be eligible to apply as a sponsor of the proposed bank.
4.8 An individual awaiting verdict of any undisposed lawsuit in any

court/tribunalagainsthis/herloandefaultstatusshallnotbeeligibleto applyasasponsoroftheproposedbank. 4.9 A tax assessee shall not be eligible to be a sponsor if he/she has any unpaidundisputedarrearofincometaxassessedforthecurrentyearor anypastyear.
4.10 A tax assessee penalized or awaiting court/tribunal verdict on any suit

for offenceunder Chapter XXI of Income Tax Ordinance, 1984 shall not beeligibletoapplyasasponsoroftheproposedbank. 4.11 Ataxassesseewhohasnotsubmittedoverduetaxreturnforthecurrent yearorwhohasundisposedtaxprosecutionreopenedundersection93 ofIncomeTaxOrdinance,1984shallnotbeeligibletoapplyasasponsor oftheproposedbank.
4.12 Any assessee having unpaid liability for any undisputed customs duty,

VAT, supplementary duty, excise duty or is awaiting verdict on any prosecution under Customs Act,1969; VAT Act,1991; Excise & Salt Act, 1944 in any court/tribunal shall not be eligible to be a sponsor of the proposedbank. 5. FitandProperTestforSponsors/Directors 5.1 Competence,integrityandqualificationsoftheSponsorsoftheproposed bank becoming the first Directors shall be evaluated. The evaluation
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processshallincludebackgroundchecksonwhetherpreviousactivities, including regulatory or judicial judgments, profession, raise doubts concerningtheircompetence,soundjudgment,orintegrity. 5.2 TheSponsors/DirectorsshallqualifytheFitandProperTestcriteria(see AnnexureV)applicablefortheBankDirectorsinBangladesh.
5.3 His/herinclusionintheBoardofDirectorsshallnotcontraveneanylaw

for the time being in force in Bangladesh and in the country ofhis/her present permanent domicile. He/she has not evaded any legal proceedings of any country for any criminal offences or crime against humanityexceptforoffencesofminortrafficviolationsetc.
5.4 Bangladesh Bank shall evaluate proposed sponsors as to expertise and

6. Managementoftheproposedbank 6.1 ADirectororAdvisortoanybankingcompanyotherthantheproposed bankshallnotbeaDirectoroftheproposedbank. 6.2 TheMemberofBoardofDirectorsshallberestrictedto13(Thirteen). 6.3 Maximum number of directors from a family shall be restricted to two incase of the total shareholding of that family exceeds 5% and one directorifthetotalshareholdingisupto5%. 6.4 The Chief Executive Officer (CEO) of the proposed bank shall have at least15(fifteen)yearsofexperienceinthebankingprofession. 7. Operationoftheproposedbank. 7.1 The ratio of urban and rural bank branch has to be 1:1 or as per instructionissuedbyBangladeshBankfromtimetotime. 7.2 New Bank has to ensure finance at least 5% of its total lending into agriculturalsectororasperinstructionissuedbyBangladeshBankfrom timetotime. 7.3 ProposedbankshouldtakepartinCorporateSocialResponsibility(CSR) activity.Thenewbankshouldspent10%ormoreofitspreviousyear's netincometoCSR.

integrity(fitandpropertest),andanypotentialforconflictsofinterest. The fit and proper criteria include:(i) skillsandexperience in relevant financial operations commensurate with the intended activities of the bank; and (ii) no record of criminal activities or adverse regulatory judgments that make person unfit to uphold important position in a bank.

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8. Required documents/ information/ analysis to be submitted to BangladeshBank The application for approval to establish a new banking company shall be submitted to Bangladesh Bank with all the accompanying documents and informationrequired,intheformatsgiveninAnnexItoAnnexIV.Bangladesh Bankshallonlyconsiderapplicationsthatincludethefollowing: 8.1 AbankdraftintheamountofTaka10(Ten)lakhinfavourofBangladesh Bank, attached to the Letter of Application, that serves as a nonrefundableapplicationprocessingfee; 8.2 NameandaddressoftheApplicant; 8.3 Name,address,telephonenumberofthecontactperson; 8.4 Feasibility Report on the proposed banking company (see Annex II), including an analysis of Bangladesh's macroeconomic environment, financial system, as well as a business plan for the proposed bank, financialprojectionsandsensitivityanalyses; 8.5 Biographical Reports (see Annexes III and IV) and proof of citizenship for each promoter/director, CEO/MD and Heads of Operation, Credit, Finance, Risk Management ,Internal Control and IT of the proposed bank; 8.6 ProposedcompensationpackageandothertermsofcontractoftheCEO; 8.7 Minutesoftheshareholders(sponsors)meeting; 8.8 Written agreement by the shareholders to organize the banking company;
8.9 Sponsorshavetosubmitabusinessplanwheremanagementstrategyof

followingsectorshouldbeelaboratelydefined; 8.9.1 Riskfactorsrelatingtoassetsofproposedbank. 8.9.2 Strategy for reaching unbanked area specially disadvantaged locality/group. 8.9.3 A strategy to provide financial services to enhance Bangladesh's competitivenessbyreducingtraderelatedbankingfees/charges. 8.9.4 A strategy to provide banking services which could promote export diversification as well as to provide financial services for nontraditionalexportsectorsandsmall&mediumentrepreneurs.
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8.9.5 New bank should bring new/modern technology (e.g. mobile banking, internet banking) for providing better service to customers. 8.10 DraftMemorandumandArticlesofAssociation;
8.11 For a corporate promoter; Board Resolution, Articles of Incorporation

andBylaws, list ofdirectors andofficers,list ofshareholdings,audited financial statements for the latest two years, certified copies of the MemorandumandArticlesofAssociation;

8.12 JointVentureagreement,incaseofforeignequityparticipation. 8.13 Inaddition,thesponsorsshall:

(a) having received a Letter of Intent from Bangladesh Bank, the companyshallapplytoBangladeshBankforaformallicensefor commencement of banking business under Section 31` of the Bank Company Act, 1991, and for a license to open a place of businessunderSection32ofsaidActinthemannerprescribed thereunder; (b)registertheproposedcompanywiththeRegistrarofJointStock CompaniesundertheCompaniesAct,1994,asapubliclimited Company,and;

(c) obtain a Certificate of Incorporation subject to the approval by Bangladesh Bank of the draft Memorandum and Articles of Association; (d) afterobtainingthelicensefromBangladeshBank,thecompany shallapplytoBangladeshBankforitsschedulingunderArticle 37oftheBangladeshBankOrder,1972.

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ANNEXI LETTEROFAPPLICATION Date: GeneralManager BankingRegulationandPolicyDepartment BangladeshBank HeadOffice Dhaka Subject:ApplicationtoestablishaBankingCompanyinBangladesh. DearSir: InaccordancewithSection31oftheBankCompanyAct,1991,wewould like to apply to establish a Banking Company in the style of <Name of the proposed bank> in Bangladesh. As required, the documents requested by BangladeshBankareenclosedherewith. Welookforwardtoreceivingyourapprovalfortheestablishmentofthe proposedinstitutionatyourearliestconvenience. Sincerelyyours, Signature: Name: Proposeddesignation: Address: Telephonenumber: email: Encl:documents/informationpertainingtotheapplication

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ANNEXII LetterofApplicationshallaccompanytheAFeasibilityReport andshallincludethefollowing: 1. MacroeconomicBackground/EnvironmentinBangladesh (i) GDPGrowthandStructure (ii) Saving&InvestmentSituation (iii) IndustrialSituation (iv) FiscalSituation (v) ForeignTradeSituation (vi) FinancialandMonetaryDevelopment 2. FinancialSystemandStructure (i) BankingandFinancialInstitutions (ii) CompositionofDeposits,Credit&Investmentandtheirgrowth (iii) Credit/DepositRatio(atthe NationalLevelandtheproposedareaof operation) (iv) Investment/Deposit Ratio (at the National Level and the proposed areaofoperation) (v) InterestRateStructureandSpreads (vi) VolumeofOffBalanceSheetActivities (vii) AvailableFinancialInstrumentsandtheNeedforFinancialInnovation (viii) ProfitabilityAnalysis (ix) Shortcomingsofthepresentsystemandscopeforimprovement (x) Justificationforestablishinganewbank 3. BusinessPlanoftheApplicantBanksupportedbystudy. (i)Fundamentalstrategyoftheproposednewbanktosurviveandgrow (ii) Schemesrelatedtonewfinancialinstruments(ifany)proposed
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(iii)

BranchExpansionPolicy

(iv) OrganizationStructure,ManagementSkills&MIS (v) TechnologyTransfer (vi) AreasofOperations 4. BusinessProjection,EconomicJustificationandFinancialAnalysis (i) CapitalStructure (ii) DetailsofFixedAssetExpenditures (iii) DetailsofOperatingExpenses (iv) DetailsofStaffExpenses (v) DetailsofPreliminaryExpenses (vi) MarketShareofDeposits,Credit&Investment (vii) Basis of Interest Income, Other Income, Income from OffBalance SheetActivities,InterestExpenses&LoanLossProvisioning (viii) Strategyofforeignexchange(i.e.,treasury)businesstransactionsand theprojectedincome (ix) ProjectedAnnualBalanceSheet,Profit&LossAccountandCashFlow Statementforatleast3years (x) Statement of capital growth plan and fulfillment of Capital Adequacy Requirement (xi) Strategy for dealing with risks encountered (e.g., credit risk, market risk,operationalrisketc.) 5. SWOT (Strengths/Weaknesses/Opportunities/Threats) Analysis of the Applicant 6.Strategyforsurvivalandgrowthinthelongrun 7. SensitivityAnalysiswithinterpretation: (i) Financial position if the Market Share of deposits & credits of the proposedbankisreducedby10percentatthenationallevel,district levelorproposedareaofoperation. (ii) Financial position if the Growth Rate of deposits & credits of the proposedbankisreducedby10percentatthenationallevel,district levelorproposedareaofoperation.
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(iii) Financial position if the Interest Rate Spread (weighted or un weighted)oftheproposedbankislimitedto:5percent; 4percent; 3percent; 2percent; 1percent. 8. Full particulars of the person(s)/firms who/which prepared the Feasibility Reportshallhavetobefurnished.

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ANNEXIII BIOGRAPHICALREPORTONSPONSORS/DIRECTORS 1. FullName:

2.DateofBirth:3.PlaceofBirth: 4.Citizenship: PassportNumber: DateandPlaceofIssue: 5. FullAddress: (a)Permanent:TelephoneNumber: (b)Present,ifdifferentfromthePermanent:TelephoneNumber: 6.MaritalStatus: Ifmarried,Spouse'sName:Occupation: Spouse'sPassportNumber: DateandPlaceofIssue: NearRelations(parents,children,brother,sister)andDependents: Name(First,Middle,Last) Relationship Age 7. Education Name& Datesof MajorArea Degree Addressof Attendance ofStudy Awarded& Institution Date HighSchool Undergraduate Graduate Professionalor Technical Training /Seminar
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8. PresentOccupation: OrganizationName: BusinessAddress: NatureofBusiness: JobTitle: TelephoneNumber: 9. BusinessRecord(pertainingtothepreceding10years) Useadditionalsheets,ifnecessary. Name&Addressof Datesof PositionHeld Responsibilities Organization Engagement 10. Describe each enterprise, including the name, address, type of enterprise [public(listedornot),private]yourpercentageofownershipandthetype of business of each enterprise or other entity which you own or control. (Control means ownership of 10% or more of the stock or ability to effectivelycontrolthemanagementoftheenterpriseorotherentity). Listnames,addressesandpercentageofcontroland/orownershipofother incorporators,partnersanddirectorsoftheentityorenterprisereferredto above. 11. Do you perform any services for or have any YesNo business connections with any institution which is ()() subject to the supervision of Bangladesh Bank, or any other authority of the government of Bangladesh? If"Yes,"indicatethenameoftheinstitution,address andnatureofyourwork. 12. Have you had, or do you now have, any financial YesNo interest, direct or indirect, in any institution/bank ()() underthesupervisionofanyGovernmentauthority? If"Yes,"givethenameoftheinstitution,addressand natureofthefinancialinterest.
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13. Being a sponsor of a proposed bank, how and from whatsourceswillyoupayforyourproposedamount ofsharecapital? (a) Owncash (a) Othersources If"Yes,"givedetails YesNo ()() ()()

14.TaxIdentificationNumber(TIN): (Attachmostrecentreturnsand/orTaxClearanceCertificates,andcertified IT10BForms). 15.Areyoudisqualifiedfromelectionornominationorfromoccupyingtheoffice ofBankDirectorowingtothefollowingcircumstances? (1) Youhavelessthan10yearsofprofessionalexperience, (2) Youareinsaneormentallyunsound, (3) Youareinsolventandadjudicatedbankrupt, (4) Youhavebeenconvictedbyacourtinanycriminaloffenseorhavebeen involvedinanyfraud/forgery,financialcrimeorotherillegalactivities, (5) YouareaDirectorofanyotherbankingcompany, (6) You are a partner in any contract with a banking company in the capacityoflegaladvisor,advisor,consultant,etc. 16. Answertoanyofthequestionsbelowiftheyapplytoyouasanindividual, orapartner,directororofficerofanenterprise. Exceptforminortrafficviolations: (a) Areanyarrests,indictments,criminalinformationorother YesNo Criminalproceedingsnowpendingagainstyou? ()() (b) Wereyoueverconvictedforanyviolationofthelaw? ()() (c) Haveyouorhasanypartnershipofwhichyouwerea Principalofficerormajorstockholdereverbeenjudged ()() Bankrupt?

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(d) Has any business in which you were a director, officer, partner or major shareholder (5% or more of the voting shares) defaulted on its servicing obligations (principal ()() and/or interest) on outstanding debt or been involved in unacceptableforeignexchangetransactions? (e) Hasanyenterpriseinwhichyouwereapartner,director,or officerbeenthesubjectofcriminalindictmentorother ()() criminalproceedings? 17. Asasponsorofthisproposedbank,IagreetoholdatleastTaka1.00crore (or its equivalent) or an amount not exceeding 10% share of the equity capitaltobeissuedbytheproposedbank. The undersigned affirms that the statements made and answers given hereinareaccurateandcompleteandherebyauthorizestheBangladeshBankto make any inquiry it deems appropriate in connection with processing this questionnaire.Falsestatementsinthisquestionnairewillbesufficientcausefor denialofalicensetoestablishbankingoperationsinBangladesh. SignatureofSponsor/Director: Name: Date: Place: Witnesses: Signature Name: Address: Signature Name: Address:

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1.FullName: 2.DateofBirth:3.PlaceofBirth: 4.Citizenship: PassportNumber: DateandPlaceofIssue: VisaType: ExpirationDate:

ANNEXIV BIOGRAPHICALREPORTONCEO/PRINCIPALOFFICERS

RighttoworkinBangladeshYes()No()

5.FullAddress: (a)Permanent:TelephoneNumber: (b)Present,ifdifferentfromthePermanent:TelephoneNumber: 6.MaritalStatus:

Ifmarried,Spouse'sName:Occupation: 7. Education Name&Address Datesof MajorArea ofInstitution Attendance ofStudy HighSchool Undergraduate Graduate Professionalor Technical Training /Seminar 8.PresentOccupation: OrganizationName: BusinessAddress: NatureofBusiness: JobTitle: TelephoneNumber:

DegreeAwarded &Date

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9. Service Record (pertaining to the 15 years' experience in the banking profession). Please enclose supporting documents. Use additional sheets, if necessary,andaccountforallgapsinemployment. Name&Addressof Datesof PositionHeld Responsibilities Organization Engagement 10. Do you perform any services for or have any business YesNo connections with any institution which is subject to the supervisionofBangladeshBank,oranyotherauthorityof ()() thegovernmentofBangladesh? If"Yes,"indicatethenameoftheinstitution,addressand natureofyourwork. 11. Haveyouhad,ordoyounowhave,anyfinancialinterest, YesNo direct or indirect, in any institution/bank under the supervisionofanyGovernmentauthority? ()() If "Yes," give the name of the institution, address and natureofthefinancialinterest. 12.TaxIdentificationNumber(TIN): (Attachmostrecentreturns and/orTax ClearanceCertificates, andcertified IT10BForms). 13. Are you disqualified for the post of CEO owing to the following circumstances? (1)Youhavelessthan15yearsofprofessionalexperience. (2)Youareinsaneormentallyunsound, (3)Youareinsolventandadjudicatedbankrupt, (4)Youhavebeenconvictedbyacourtinanycriminaloffenseorhavebeen involvedinanyfraud/forgery,financialcrimeorotherillegalactivities. (5)YouareaDirectorofanybankingcompany. (6) You are a partner in any contract with a banking company in the capacityoflegaladvisor,advisor,consultant,etc.
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14.Answertoanyofthequestionsbelowiftheyapplytoyouasanindividual,or apartner,directororofficerofanenterprise. Exceptforminortrafficviolations: (1)Are any arrests, indictments, criminal information or YesNo other Criminalproceedingsnowpendingagainstyou? ()() (2)Wereyoueverconvictedforanyviolationofthelaw? ()() The undersigned affirms that the statements made and answers given hereinareaccurateandcompleteandherebyauthorizestheBangladeshBankto make any inquiry it deems appropriate in connection with processing this questionnaire.Falsestatementsinthisquestionnairewillbesufficientcausefor denialofalicensetoestablishbankingoperationsinBangladesh. SignatureoftheCEO/PrincipalOfficer Name: Date: Place: Witnesses: Signature Name: Address: Signature Name: Address:
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ANNEXV CONSTITUTIONOFTHEBOARDOFDIRECTORSANDFITANDPROPER TESTFORAPPOINTMENTOFBANKDIRECTORS Responsibilitiesofrunningtheaffairsofabankcompany,likeother companies, are entrusted to its board of directors. The responsibilities of the boardofdirectorsofabankcompanyaremoreimportantthanthoseofother companies; because in case of a bankcompany it is essential to earn and maintain confidence of the depositors as its business is mainly run with the depositors' money. The board of directors shall also have to strive to protectinterestsofitsdepositorsaswellasoftheshareholders.Itisimperative toconstitute theboard ofdirectorswithcompetent and professionally skilled persons and limit the number of directors with a view to formulating policy guidelines and supervising business activities of the bank efficiently as well as ensuringgoodandcorporategovernanceinthebankmanagement. BangladeshBankdeemsitnecessarytoissuedirectivesforcomplianceof the bankcompany regarding constitution of the board of directors and fit and proper test for appointment of directors in the interest of depositors and for securing proper management of the bankcompanies. Therefore, in exercise of the powers conferred by section 45(1) of the BankCompaniesAct,1991, the followingrestrictionshavebeenimposedregardingconstitutionoftheboardof directorsandfitandpropertestcriteriaforconsiderationandcomplianceofthe appointing authority (viz.general meeting, board of directors etc.) of the privatebanksregardingappointmentorreappointmentandfillingupofcasual vacancyoftheofficesofbankdirectors: 1. ConstitutionoftheBoardofDirectors: a) Theboard ofdirectors ofthebankcompaniesshallbeconstituted of maximum13(thirteen)directors.However,thedirectorsofthebanks, wherethenumberofdirectors. b) This restriction shall apply to appointment/reappointment of the directors against retirement or filling casual vacancy subject to section15KaKaoftheBankCompanyAct,1991.Maximumnumber of directors from a family shall be restricted to two incase of the total shareholding of that family exceeds 5% and one director if the total shareholding is up to 5%. For this purpose family members shall includespouse,parents,children,brothersandsistersofthedirector andotherpersonsdependentonhim/her. 2. FitandProperTest: a) Theconcernedpersonmusthavemanagement/businessorprofessional experienceforatleast10(ten)years; b) (S)hehasnotbeenconvictedinanycriminaloffenceorinvolvedinany
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fraud/forgery,financialcrimeorotherillegalactivities; c) (S)hehasnotbeensubjecttoanyadversefindingsinanylegal proceedings, d) (S)hehasnotbeenconvictedinregardtocontraventionofrules, regulationsordisciplinesoftheregulatoryauthoritiesrelatingtofinancial sector; e) (S)hehasnotbeeninvolvedwithacompany/firmwhoseregistration/ licensehasbeenrevokedorcancelledorwhichhasgoneintoliquidation; f) Loans taken by him/her or allied concern from any bank or financial institutionhavenotbecomedefaulted; g) (S)hehasnotbeenadjudicatedabankruptbyacourt; h) (S)hemustbeloyaltothedecisionsoftheboardofdirectors.However,in case of note of dissent, (s)he may record it in the minutes of the board meeting and/or bring it to the notice of Bangladesh Bank considering its merit. 3. Aperson,proposedasacandidatefortheofficeofdirector,shallfurnish along with the consent letter for the purpose of section 93 of the CompaniesAct,1994adeclarationaspertheattachedformatthat(s)he isnotdisqualifiedtobecomeabankdirectorinaccordancewiththe abovementionedfitandpropertest. 4. The declaration shall have to be signed by the concerned person (candidate)andifelecteditshallhavetobeforwardedtoBangladeshBank bytheChairmanoftheboardofdirectors. 5. The abovementioned restrictions for qualifications of bank directors shall beinadditiontoanyrelatedlaws/regulationsforthetimebeinginforce.
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Declaration

AnnexureA

I do hereby declare that I am eligible to become a director of bank companyasperthefitandpropertestcriteriamentionedintheGuidelinesto EstablishaBankingCompanyinBangladesh.Ifurtherdeclarethat a) I have not been convicted in any criminal offence or involved in any fraud/forgery,financialcrimeorotherillegalactivities; b) There is no adverse opinion/findings regarding me in any legal proceedings, c) I have not been convicted in regard to contravention of rules, regulations and disciplines of the regulatory authorities relating to financialsector; d) Ihavenotbeeninvolvedwithacompany/firmwhoseregistration/license hasbeenrevokedorcancelledorwhichhasgoneintoliquidation; e) There are no loans taken by me or my allied concern from any bank or financialinstitutionthathavebecomedefaulted; f) Ihavenotbeenadjudicatedabankruptbyacourt; g) My spouse, parents, children, brothers and sisters or any other person dependentonmeisnotadirectorofthisbank. Dated:Signature: ( ) Countersigned: () Chairman,BoardofDirectors ......BankLtd.

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