Staff Correspondent:

The central bank said that the name of AB Bank Limited has been changed to ‘AB Bank PLC’. The Banking Regulations and Policy Department (BRPD) of Bangladesh Bank has informed this information in a circular on Monday (November 27).

According to the notification, in accordance with the provisions of section 11A (a) of the Companies Act, 1994, the name of ‘AB Bank Limited’ has been changed to ‘AB Bank PLC’ in the list of Scheduled Banks of the country from November 27.

A notification signed by Abu Farah Md. Naser, Deputy Governor of Bangladesh Bank has been issued in this regard on Monday (November 27).

Bangladesh Bank has informed that the name of ‘AB Bank Limited’ listed in the Schedule of the country has been changed to ‘AB Bank PLC’ from November 27 with the powers given in Section 37 (2) (C) of Bangladesh Bank Order, 1972 (President’s Order No. 127 of 1972).

The central bank has sent instructions in this regard to the managing directors and chief executive officers of all scheduled banks operating in the country.

A question has arisen in the minds of many of the general public, why banks are suddenly adding PLC at the end of the name. It is known that on February 22 of this year, the Banking Regulations and Policy Department (BRPD) of Bangladesh Bank announced in a circular that according to the Bank Company Act, from now on all commercial banks must write ‘Public Limited Company’ or ‘PLC’ at the end of their names. As part of this order, PLC is being added to the name of each commercial bank in various steps.

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