Financial institutions can not buy cars in FY2022-23: Central bank
Purchase of any type of vehicles at official expenditure by financial institutions will be suspended during the financial year 2022-23, said the Bangladesh Bank.
The Financial Institutions and Market Department of Bangladesh Bank on Wednesday (21 December) issued a notification in this regard - in line with the government's decision to reduce operational and development expenditure in the context of the ongoing global economic downturn.
At the same time, the central bank instructed to reduce operating expenses for the benefit of institutions and depositors.
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Chief executives of financial institutions cannot be given multiple cars at company expense. However, they will get fuel expenses within certain limits. Proofs and vouchers of expenditure in this regard should be properly preserved.
Apart from this, the Bangladesh Bank has instructed that the officers who take money for car loan and its maintenance cannot use the car of the company.
As per the guidelines published on 18 November 2015, all vehicles of financial institutions were replaceable after a minimum of five years of use. According to the new guidelines all vehicles of financial institutions will be replaceable after a minimum of eight years of use, in line with the government order regarding eight-year vehicle lifespan.
