The government has moved to scrap the controversial Section 18(a) of the Bank Resolution Act, which has drawn criticism for potentially allowing former shareholders of banks to regain ownership of shares, assets and liabilities.

Finance Minister Amir Khosru Mahmud Chowdhury placed the Bank Resolution (Amendment) Bill, 2026 in Parliament on Thursday.

The bill was subsequently sent to the Parliamentary Standing Committee on the Ministry of Finance for scrutiny and submission of its report within two working days.

According to the bill, Section 18(a) of the Bank Resolution Act will be repealed.

The provision was not included in the Bank Resolution Ordinance issued by the interim government. It was later incorporated when the ordinance was amended and approved after the BNP-led government assumed office.

Section 18(a) has become a major point of controversy following the passage of the Bank Resolution Act, as critics said the provision could create an avenue for former and disputed directors and shareholders of banks to return to ownership.

Under the provision, shareholders who held shares in a bank before it was brought under a resolution process could apply to Bangladesh Bank to acquire shares, assets and liabilities of the bank again.

The provision also allowed Bangladesh Bank to provide the same opportunity to another suitable person.

The provision has attracted particular attention in connection with the merger of five troubled Islamic banks into Sammilito Islami Bank PLC, amid concerns over the possible return of former directors and shareholders associated with the banks.

The government later decided to remove the provision following the criticism.

In the statement of objects and reasons attached to the amendment bill, Finance Minister Amir Khosru said repealing the provision is appropriate as no person or institution has so far applied under the full conditions stipulated in the section since the law came into effect.

Private bill rejected

Meanwhile, Bangladesh Jamaat-e-Islami lawmaker Nazibur Rahman sought permission to introduce a private member’s bill seeking amendments to the Government Money and Budget Management Act.

The finance minister spoke on the matter and requested the lawmaker to withdraw the bill.

Nazibur, however, declined to withdraw it, following which the matter was put to a vote in the House.

As the proposal failed to secure the required support, the lawmaker was not given permission to introduce the bill.