Bangladesh, June 30 -- The government has decided to repeal the controversial Section 18(A) of the Bank Resolution Act, 2026, following widespread criticism that the provision could allow former owners of troubled banks to regain control under certain conditions.
Finance Minister Amir Khosru Mahmud Chowdhury announced the decision in Parliament on Monday during the budget discussion.
"Based on the opinions of different stakeholders regarding Section 18(A) of the Bank Resolution Act, 2026, the government has decided to repeal the provision," the minister said.
Reiterating the government's position on banking sector reforms, he added: "Our message is clear. Those who looted public assets will not be spared. At the same time, depositors' sa...