Published: 01:54 AM, 12 July 2023
BDBL changes name to the 'Bangladesh Development Bank PLC'
Bangladesh Development Bank Ltd (BDBL) undergone a name change and will now be known as 'Bangladesh Development Bank PLC'. The decision was made during the first Special General Meeting of the bank on Tuesday. Shamima Nargis, Chairman of the Board of Directors of BDBL, Mr. Mafiz Uddin Ahmed, additional Secretary of the Financial Institutions Department of the Ministry of Finance were present in the meeting. AA
The Bangladesh Development Bank Ltd (BDBL) has undergone a name change and will now be known as 'Bangladesh Development Bank PLC'. The decision was made during the First Special General Meeting (EGM) of the bank on Tuesday, where shareholders approved the new name. Consequently, the bank will begin operating under its new identity.
Shamima Nargis, chairman of the Board of Directors, former senior Secretary of the Financial Institutions Department of the Ministry of Finance, Shareholder and Director, CEO and MD of the bank were present in the special general meeting.
According to reports, the Companies Act 2020 has been amended to include a new section, 11(a), which outlines the identification requirements for limited liability companies. Under this section, public limited companies are required to include "public limited company" or "PLC" at the end of their name.
This new requirement also applies to bank companies, which must change their Company Name and Memorandum of Association to include "PLC" at the end of their name. Therefore, Bangladesh Development Bank Ltd (BDBL) name has been changed to 'Bangladesh Development Bank PLC' .
