Banks’ general shareholders to get dividend before Sept

Staff Correspondent | Published: 23:19, Jun 01,2020

 
 

The Bangladesh Bank is likely to allow banks to disburse cash dividend only to the general shareholders before September this year, BB executive director and spokesperson Md Serajul Islam told New Age on Monday.

Serajul disclosed the information after BB governor Fazle Kabir and Bangladesh Securities and Exchange Commission’s newly appointed chairman Shibli Rubayat Ul Islam held a meeting at the BB headquarters in the capital on the day.

Amid the coronavirus pandemic in the country, the BB on May 3 asked all the scheduled banks not to disburse any cash dividend before September 30 this year with a view to ensuring adequate cash in the banking system to support the economic rebuilding process when the epidemic is over.

At Monday’s meeting, Shibli proposed that the central bank should allow the banks to disburse cash dividend only to the shareholders other than the sponsor-directors and institutional investors considering the sufferings of the general investors during the ongoing coronavirus pandemic.

Fazle Kabir responded positively to Shibli’s proposal, Serajul said.

If found nothing contradictory with the existing rules and regulations, the BB would issue instruction over the issue soon, a BB official said.

After the meeting, Shibli said that the central bank assured him of considering the proposal positively and hoped that the BB might issue instruction in this regard soon.

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