Jumbangla Desk: Central Bank has said that the name of Trust Bank Limited has been changed to 'Trust Bank PLC'.

Bangladesh Bank's Banking Regulations and Policy Department (BRPD) informed this information in a circular on Monday (October 21).

It is said that, as per the provisions of Section 11A(a) of the Companies Act, 1994, the name of 'Trust Bank Limited' has been changed to 'Trust Bank PLC' in the list of scheduled banks of the country from October 21.

In this regard, a notification signed by the Deputy Governor of Bangladesh Bank Noorun Nahar has been issued.

Bangladesh Bank has informed that the name of 'Trust Bank Limited' has been changed to 'Trust Bank PLC' from October 21 under the authority 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.

The question has arisen in the mind of many, suddenly why banks are adding PLC at the end of their name. On inquiry into this matter, on February 22 last year, the Banking Regulations and Policy Department (BRPD) of Bangladesh Bank announced in a circular that according to the Bank Companies Act, from now on, 'Public Limited Company' or 'PLC' should be written at the end of the names of commercial banks.

As part of this mandate, every commercial bank is gradually adding PLC to its name.