BB mandates recording of dissenting opinions in board meetings
The Bangladesh Bank has made it mandatory for all banks to accurately document board members' opinions, including any dissenting views (Notes of Dissent), in the minutes of board and committee meetings.
The directive was issued today (4 August) by the central bank's Banking Regulation and Policy Department (BRPD).
According to the new instruction, if any director expresses a differing opinion or submits a "Note of Dissent" regarding an agenda item discussed in a board or committee meeting, it must be comprehensively recorded in the meeting minutes.
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Similarly, any comments or observations made by representatives of Bangladesh Bank attending the meeting must also be included accurately.
"All deliberations, opinions, observations, recommendations, and dissent notes related to agenda items presented at meetings must be recorded in detail in the minutes," it said.
It also added, "If an observer from Bangladesh Bank is present at a meeting, their comments must also be incorporated into the minutes."
The central bank stated that although a prior directive -- BRPD Circular No-02 issued on 11 February 2024 -- outlined the rules regarding board meetings, many banks have failed to comply.
In several instances, the key points of discussion or directors' remarks were not properly reflected in the minutes, which hampers effective participation and contributions by board members.
