The cabinet on Monday gave approval in principle to the draft of the Bankers' Book Evidence Bill 2020 to replace the old Bankers' Book Evidence Act 1891.
The decision came from the regular weekly meeting of the cabinet held at the Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair. She attended the meeting virtually from Ganabhaban, reports UNB.
Briefing reporters after the meeting, Cabinet Secretary Khandker Anwarul Islam said this law will be a new one as the ground reality has changed a lot given the reality of 1891.
In this connection, he mentioned about the banking through digital and ICT-based banking system.
The new law will incorporate these new aspects in it.
The cabinet secretary mentioned that the new law defines the jurisdiction of the court for any bank related information, which is totally prohibited in the old law.
"Some of the information has been opened up in the new law, axing the privileged and personal information, which will be authorised to publish the information," he said.
The new law also states some offences, punishments and trial to prevent unauthorised and the behind-scene leak of any information.
He said this law has been sent to the legislative division for vetting and it will be placed before the cabinet again for final approval.
The cabinet also gave the final approval to the House Building Finance Corporation Order (Amendment) Act, 2020 to increase the authorised capital and paid-up capital, and expand its area of providing services.
The cabinet also approved the draft of 'National food and nutrition policy 2020', considering the food system as a whole.