, Sept. 7 -- Commerce Minister Khandakar Abdul Muktadir on Monday said the Companies Act 1994 needs to be amended and updated in line with the changing times, as the legal framework has seen only minor changes since its enactment.

Speaking as the chief guest at a stakeholder consultation on the draft amendments to the Companies Act, 1994 at the FBCCI boardroom in the city, he said good examples could be drawn from countries where business rules and regulations are being implemented effectively to simplify trade practices in Bangladesh.

The dialogue was organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

The minister said the Companies Act has undergone only two minor reforms since it was enacted in 1994...