Sangsad Bhaban, June 29 -- The government has decided to repeal the controversial Section 18(A) of the Bank Resolution Act, 2026 that had drawn widespread criticism for allowing former owners of failed banks to reclaim control under certain conditions.

"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," Minister Amir Khosru Mahmud Chowdhury told Parliament on Monday during the budget discussion.

The minister also reiterated the government's stance on tackling irregularities in the banking sector. "Our message is clear. Those who looted public assets will not be spared. At the same time, depositors' savings will be protected."

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