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29/11/2022
Laws of Bangladesh

The Bangladesh Banks (Nationalisation) Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 26 OF 1972 )

 
 
 
 
 
 
22. (1) A new bank shall not transact the following kinds of business, namely:-
 
 
 
 
(a) it shall not make any advance or loan or grant any facility in contravention of any law in force or any instruction of the Bangladesh Bank;
 
 
 
 
(b) it shall not make any unsecured advance or loan to any Director or to any concern in which a Director is interested:
 
 
 
 
Provided that no facility to any member of the staff shall be denied merely because he is also a Director.
 
 
 
 
(2) Notwithstanding anything contained in clause (1), the bank is authorised to grant advances or loans or to make exgratia payments, with the prior approval of the Government, to its officers and staff for the purpose of providing amenities and facilities for their betterment.

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