The Financial Institutions Division of the Finance Ministry has called a meeting at the Secretariat on Tuesday to sign the Annual Performance Agreement (APA) with three regulatory bodies, including Bangladesh Bank.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The four regulatory bodies are affiliated with the Financial Institutions Department. These are Bangladesh Bank, Bangladesh Securities and Exchange Commission (BSEC), Insurance Development and Regulatory Authority (IDRA) and Microfinance Corporation (MRA). MRA has already done APA with the department.
The Financial Institutions Department sent a letter to the three regulatory bodies on March 26 to take initiative to make APA for the fiscal year 2022-23. The letter noted the need to create APAs to ensure accountability, timely delivery of information and credentials and good governance in all areas of the financial sector. That said, the APA is managed through the Cabinet Division.
After receiving the letter, none of the three financial institutions contacted the department positively. The department sent separate letters to the three organizations on April 16 to attend the meeting to be held tomorrow. It said a draft of the APA would be discussed at a meeting with the agency’s focal point officials today.
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