The Bangladesh Bank has extended the time limit for submitting the banks' audited annual reports for 2019, to June this year owing to the coronavirus pandemic.
According to the banking company act 1991, every bank has to submit its audited annual report to the central bank within two months after a calendar year passed.
If any bank fails to do so within the deadline, it can seek two more months from its regulator – the Bangladesh Bank.
According to this provision of the law, this year the banks had time up to April 30 to submit their respective audited annual reports of 2019. But most of them could not prepare the reports during the time, insiders said.
So, on Monday, the central bank issued a directive to extend the time limit as per their demand.