JS-14 Bankruptcy (Amendment) Act in final stage

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ZCZC

JS-14

BUDGET-FY22-BANKRUPTCY-ACT

Bankruptcy (Amendment) Act in final stage

DHAKA, June 03, 2021 (BSS) – The government has finalised the ‘Bankruptcy (Amendment) Act’ for keeping smooth the country’s financial sector.

“The government is implementing various activities to reform and develop the financial sector. This includes banking sub-sector, capital market, insurance and other financial sub-sectors. Structural and sustainable reforms have been taken up to facilitate the overall development of the banking sub-sector,” said Finance Minister A H M Mustafa Kamal while placing the national budget for fiscal year (FY) 2021-22 today in the Jatiya Sangsad.

To this end, he said, steps have been taken to update or reform the following laws, which is now in the final stage: Bank Company (Amendment) Act; Payment Systems Act; Secured Transaction Act; Bankruptcy (Amendment) Act; and Asset Management Company Act.

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