BRAC Bank moves to surrender trustee licence for mutual fund

BRAC Bank PLC has decided to surrender its trustee registration for mutual funds to comply with updated regulations, a move that could have wider implications for the country's struggling fund management industry. The bank, acting in its capacity as a trustee, has submitted an application to Bangladesh Securities and Exchange Commission seeking formal approval for the surrender, according to officials. Shaheen Iqbal, additional managing director and head of Wholesale Banking at the bank, confirmed the development, saying a public notice has already been published to inform stakeholders o
2026-04-01 15:50:00