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Bank and Insurance Regulation

This course traces the development of Bangladesh's financial services sector and important laws related to banking and insurance. It aims to provide students with detailed knowledge of the legal environment for the financial system in Bangladesh. The course materials include textbooks on banking and insurance law in Bangladesh. The course content covers 12 units on key laws such as the Negotiable Instruments Act, Bank Company Act, Money Laundering Prevention Act, and Insurance Act. It examines the objectives and provisions of the laws governing banks, non-bank financial institutions, insolvency, deposit insurance, and regulation of the insurance industry.

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607 views2 pages

Bank and Insurance Regulation

This course traces the development of Bangladesh's financial services sector and important laws related to banking and insurance. It aims to provide students with detailed knowledge of the legal environment for the financial system in Bangladesh. The course materials include textbooks on banking and insurance law in Bangladesh. The course content covers 12 units on key laws such as the Negotiable Instruments Act, Bank Company Act, Money Laundering Prevention Act, and Insurance Act. It examines the objectives and provisions of the laws governing banks, non-bank financial institutions, insolvency, deposit insurance, and regulation of the insurance industry.

Uploaded by

ভোরের কুয়াশা
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Course Description

The course traces the development of the financial service sector as well as gives an account of the
important events along with necessary data and information. Most of the units deal with various important
laws relevant to the banking and insurance industry, particularly from the context of Bangladesh.
Conceptually, this course aims to introduce the students to the growing financial sector and its legal
environment.

Objective of the Course

The objective of this course is to enable the students to gain detailed knowledge about the legal aspects of
financial system with special attention to Bangladesh. This course will focus on the different acts meant
for banking and insurance industry which may have huge impact on the modes of operations of these
financial institutions and their provided financial services.

Course Materials

Text Book:

1. Bank Company Laws of Bangladesh, Prof Dr. Md. Altaf Hossain


2. The Law of Banking and Insurance, Asaduzzaman, Mohammed Sheikh Sadi, Md. Mamunur
Rashid
Supplementary Text:
1. Banks and Legal Environment, Dr. R. M. Debnath, 2017-2018.
2. Bank Company and Securities Law, S.M. Masud Rana
Course Contents

No
Units Contents
.

Banks and Legal Constituents of Legal environment, objectives of regulatory law, brief
1
Environment introduction to the banking laws

The Negotiable Negotiable Instruments as an alternative to cash, Importance,


2 Instruments Act- Definition, kinds and features of negotiable instruments, presumptions
1881 and important sections of N.I. act.

The Bankers’ Books Background, Amendments, idea of books and certified copy, mode of
3
Evidence Act- 1891 proofs, inspection, costs

Bank Company Act- New act for banking sector, covered issues, Preliminary, business of
1991 bank company, illegal banking transactions, prohibition of certain
4
activities, acquisitions, suspension and winding up of bank company,
speedy disposal of winding up proceedings, cases
Financial Institutions Background, Covered Institutions and subjects, preliminary, licensing
Act- 1993 of FIs, reserve fund, dividend, balance sheet, maintenance of minimum
5
liquidity, inspection, submission of financial statements and audit,
suspension of FIs, reorganization

Importance, subjects covered, acts of insolvency, duties of debtor,


6 Insolvency Act- 1997
committee of creditors, appointment of receiver

Bank Deposit
7 Objectives, Small depositors insured, provisions of the ordinance
Insurance Act- 2000

Money Laundering Definitions, Offence of Money Laundering and punishment,


Prevention Act- 2002 investigation and trial of an offence, provision relation to bail, orders to
and Act 2012 freeze or attach property, return and appeal against order to freeze,
8
(Amended) Confiscation of property, return and appeal against confiscated
property, powers and responsibilities of Bangladesh Bank in restraining
the offence of ML, BFIU and its responsibilities.

Money Loan Court Culture of default and legal framework, feature of the new act, subjects
Act- 2003 covered, preliminary, powers and jurisdiction of the court, filing of
9
suits, judicial procedure, dispute resolution by alternative methods.
Execution, appeal and revision

Other Relevant Laws Contract Act-1872, Law of Agency, The Limitation Act- 1908,
10
for Bankers Partnership Act- 1932, Companies Act- 1994

Registration and cancellation of insurance business, registration


certificate, renew of registration, licensing for new branch, premium
11 Insurance Act-2010
determination both life and non-life insurance, reinsurance in foreign,
capital, deposit, solvency margin, actuary report, subsidiary and others

IDRA and its composition, functions and responsibilities of the


authority, conflict of interest, registration and renewals, determination
Insurance
of premium rates for non-life insurance, capital and deposits, margin of
Development and
12 solvency, insurable interests, actuarial report and abstract, submission
Regulatory Authority
of returns, investment of assets, loans and management, assignment
Act-2010
and transfer of life insurance policies, commissions, distribution of
dividend, bonus and profit, licensing of insurance surveyors

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