BANKING AND FINANCE LEGAL SERVICES IN BANGLADESH
Bangladesh Bank is the main regulatory body of the country’s monetary and financial system, and such is the authority that regulates banking and financial legal services in Bangladesh. It was established on 16th December 1971, through the Bangladesh Bank Order 1972- President’s Order No. 127 of 1972 (Amended in 2003). The Chief Executive Officer of this monumental institution is also as the Governor.
The main functions of BB are -
- formulation and implementation of foreign exchange policy;
- to hold and manage the official foreign reserves of Bangladesh;
- authority for issuing of Taka;
- supervising authority for banks and other financial institutions
- BB is regulated by several laws, regulations and guidelines which compliment it to perform its duties in relation to the monetary and fiscal system of the economy. Some of these laws are cited below-
· Bangladesh Bank Order 1972;
· Bank Company Act 1991
· Bank Company (Amendment) Act 2013
· Negotiatble Instrument Act 1881
· The Bankers’ Book Evidence Act 1891
· Foreign Exchange Regulations Act 1947
· Foreign Exchange Regulations (Amendment) Act 2015
· Financial Institutions Act 1993
· Financial Reporting Act 2015
· Money Loan Court Act 2003
· Money Laundering Prevention Act,2012
· Money Laundering Prevention (Amendment) Act, 2015
· Anti-terrorism Act, 2009
FM Associates provides both litigation and corporate services to clients facing legal issues in relation to banking and finance. Our banking and finance legal services in Bangladesh have a set of experienced lawyers who prepare various documents required to obtain finance, review documents to be submitted to regulatory authorities, advise on acquiring finance as well as resolve dispute both inside and outside of court through effective dispute resolution skills. FMA has a considerable banking and finance legal services in Bangladesh, local and international, clientele base in the form of banks and other financial institutions, including but not limited to insurance companies, asset management companies etc.
We regularly represent our clients in money suits, cheque matters under the Negotiable Instruments Act 1881, matters of Money Loan Court Act 2003, Bank Companies Act 1991, mortgage disputes and redemptions, regulatory compliance and communications. FMA lawyers help clients arrange and or structure out loan transactions, project finance, trade finance, construction finance, mergers and acquisitions of corporate entities and transactional disputes that arise, conduct due diligence on mortgaged properties etc.
Cheque Dishonour in Bangladesh under Negotiable Instrument Act