The Bangladesh Bank on Sunday said that the scheduled banks would have to submit their audited financial balance sheets to the central bank within two months after the end of each calendar year.
Previously the banks got three months to submit the reports.
The BB issued a circular to managing directors and chief executive officers of all scheduled banks saying that the amended rule would come into effect from December 31 this year.
The central bank issued the directive in line with the Bank Company (Amended) Act 2013.
The BB asked the banks to prepare their financial balance sheets in due time and to submit three copies of the reports to the central bank after completing audit and taking approval from their respective boards.
Besides, the banks will have to place their annual reports, which will be prepared on the basis of the balance sheets, before the central bank with the balance sheets, the BB circular said.
Under the previous rules, the banks were allowed to submit their audited balance sheets to the BB within three months after the end of each calendar year.
The central bank was also empowered to extend the time for another three months, a BB official told New Age on Sunday.
The banks will have to submit their audited balance sheets for 2013 to the central bank by February 2014 in line with the Bank Company (Amended) Act 2013, he added.
-With New Age input
