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Bangladesh to set up a Financial Stability Council

The Bangladeshi government plans to create a Financial Stability Council to resolve financial crises, the Dhaka Tribune reported Aug. 4, citing officials.

Such plans include forming two working groups under the FSC to develop a resolution regime for banks or financial institutions, and macro-financial monitoring, along with a coordination council headed by the central Bangladesh Bank governor.

The FSC will include all of the country's financial sector regulators such as the Ministry of Finance, Bangladesh Security Exchange Commission and the central bank, the publication said.

It added the government will finalize the framework governing the FSC and its two working groups following a critical review and feedback process from regulators and think tanks.