Bangladesh Bank (BB) on Wednesday tightened the rules for banks' car purchases for avoiding high-value expenses and purchases of luxurious cars with a view to cutting operating expenses, reports BSS.
"Banks would be able to replace cars and other vehicles used by their chairmen and chief executive officers and the lenders if they are at least eight years old," said a central bank circular.
Earlier in 2019, the BB allowed banks to replace their cars and other vehicles dedicated to their chairmen and CEOs with new ones after they age at least five years.
Now, the vehicles would have to be at least eight years old, it added.
Bd-pratidin English/Golam Rosul
