Best Financial Services Regulation Lawyers in Dhaka

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Counsels Law Partners (CLP)
Dhaka, Bangladesh

Founded in 2016
50 people in their team
Bengali
English
Banking & Finance Financial Services Regulation Investment +9 more
About Counsels Law PartnersCounsels Law Partners (CLP) is a full service international law firm with its head office in Dhaka, Bangladesh. Further, it also has branches in Chittagong and Sylhet. It is one of the best reviewed law chambers in Bangladesh. The CLP team is a blend of UK trained...

Founded in 1970
50 people in their team
Bengali
English
SALAMAZIZ is a law chambers primarily based in Dhaka. The law chambers was founded by Mr. Shah Azizur Rahman, Advocate Supreme Court of Bangladesh who had provided legal services to national and international clients since early 1970s. Today the chambers is managed by his daughter Barrister...
Rahman's Chambers
Dhaka, Bangladesh

Founded in 2006
50 people in their team
Bengali
English
About Rahman's ChambersRahman’s Chambers was founded by Mr. Mohammed Forrukh Rahman in 2006 following his family tradition that dates back to 1920s all the way to his grandfather, late Mr. Shamsuddin Ahmed.Mr. Ahmed graduated from Calcutta University in 1924, was awarded by Bangladesh Bar Council...
Shawn Novel & Associates
Dhaka, Bangladesh

Founded in 2007
10 people in their team
Bengali
English
About UsShawn Novel & Associates is a reputed law firm committed to providing excellent quality legal services to its clients. At our firm, we understand the needs of our clients and value them in the highest priority. Our expertise and experience are devoted to prompt delivery of professional...
Azad & Company
Dhaka, Bangladesh

Founded in 2009
50 people in their team
Bengali
English
About UsAzad & Company is the best law chamber service company in Dhaka and a  Law Firm comprising of a team of young & energetic legal experts. Being a modern-styled law firm, we always remain technologically updated. Our competent lawyers gathered together with a common concept of...

Founded in 1978
50 people in their team
Bengali
English
About usWhat can be more transparent and efficient than a group of young enthusiastic minds guided by experienced seniors? It makes our team more accountable as we strive to maintain our exceptional record in client satisfaction.We are located at the heart of the capital, in Azimpur and...
Rahman Law Associates

Rahman Law Associates

30 minutes Free Consultation
Dhaka, Bangladesh

Founded in 1978
10 people in their team
English
A Business oriented Leading Law Firm in Bangladesh with expertise In Corporate & Commercial laws, FDI, M&A and Arbitration. The team is comprising of a highly Efficient, Experienced and Effervescent team of professionals, with the goal to provide one stop solution for all your Corporate and...
The Legal Circle
Dhaka, Bangladesh

Founded in 2008
50 people in their team
Bengali
English
The Legal Circle is a firm of barristers, advocates and legal consultants specializing in representing clients in Bangladesh on both domestic and international legal matters. Bringing together a team of experienced lawyers, several of whom have previously worked at leading law firms in Bangladesh...
OGR Legal
Dhaka, Bangladesh

Founded in 2000
50 people in their team
Bengali
English
OGR Legal is a Bangladeshi law firmwith a rare and invaluable grasp of strategic commercial and practical issues. We combine exceptional legal expertise with deep industry knowledge and refreshingly creative thinking, to help clients achieve their goals. We provide with a full law service to...
Tahmidur Rahman Remura
Dhaka, Bangladesh

Founded in 2019
50 people in their team
Bengali
English
Barrister Tahmidur Rahman is an IEB (The Institution of Engineers, Bangladesh) accredited Engineer and a QLD(Qualifying Law Degree) holder, who simultaneously pursued and acquired First Class results in Computer Science and Engineering (CSE) from North South University and LL.B.(Hons.) from British...
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About Financial Services Regulation Law in Dhaka, Bangladesh

Financial services regulation in Dhaka, Bangladesh is shaped by a mix of national legislation and regulatory bodies that oversee the financial market. These regulations aim to ensure the stability, transparency, and integrity of the financial system while protecting consumers. The Bangladesh Bank, the central regulatory body, plays a pivotal role in shaping financial policies, ensuring compliance, and regulating banking operations. Additionally, the Bangladesh Securities and Exchange Commission (BSEC) oversees the capital markets, including securities and related investments. Other sector-specific regulators are tasked with overseeing insurance and microfinance activities. Recent reforms have focused on aligning Bangladesh's financial regulations with international standards, emphasizing risk management, anti-money laundering (AML), and combating the financing of terrorism (CFT).

Why You May Need a Lawyer

Individuals and organizations may require legal assistance in the field of financial services regulation for various reasons:

  • Compliance Issues: Navigating the complex regulatory landscape to ensure compliance with all applicable laws and regulations.
  • Disputes: Representation in disputes related to banking, securities, or insurance services.
  • Licensing and Registration: Assistance in obtaining necessary licenses or registrations for financial operations.
  • Mergers and Acquisitions: Legal advice on the regulatory implications during mergers, acquisitions, or joint ventures.
  • Investigations and Audits: Legal support during regulatory investigations or audits.
  • Contractual Agreements: Drafting and reviewing contracts related to financial products and services.
  • Client Protection: Protecting the rights of consumers or clients in financial transactions.

Local Laws Overview

Several key regulatory frameworks impact financial services regulation in Dhaka, Bangladesh:

  • Banking Companies Act, 1991: Governs the operations of banks and financial institutions. It outlines licensing, capital requirements, and operational standards.
  • Securities and Exchange Ordinance, 1969: Regulates the securities market and aims to prevent fraudulent and unfair practices related to securities transactions.
  • Insurance Act, 2010: Sets the regulatory framework for the insurance industry, ensuring policyholder protection and industry stability.
  • Financial Institutions Act, 1993: Provides guidelines for the regulation of non-banking financial institutions, focusing on the management and operation of these entities.
  • Money Laundering Prevention Act, 2012: Establishes measures to combat money laundering and provides guidelines for compliance and enforcement.

Frequently Asked Questions

What is the role of the Bangladesh Bank in financial regulation?

The Bangladesh Bank is the central regulatory authority responsible for overseeing the banking industry, formulating monetary policy, issuing currency, and ensuring financial stability in Bangladesh.

How can I ensure compliance with financial regulations in Dhaka?

Compliance can be ensured by keeping abreast of regulatory updates, implementing robust internal controls, conducting regular audits, and consulting with legal experts specializing in financial services regulation.

What are the penalties for non-compliance with financial regulations?

Penalties may include fines, revocation of licenses, restrictions on operations, or legal prosecution depending on the severity of the non-compliance.

Do hedge funds require specific authorization to operate in Bangladesh?

Yes, hedge funds and similar entities generally require authorization from the Bangladesh Securities and Exchange Commission to operate legally in the country.

What should a company do in case of a regulatory investigation?

The company should immediately consult with legal counsel, cooperate with authorities, and ensure that all documentation and information required for the investigation are prepared and compliant with legal standards.

How are consumer rights protected under financial services regulations?

Consumer rights are protected through regulations that ensure transparency, fair practices, redress mechanisms for grievances, and mandatory disclosures by financial service providers.

What is the process for obtaining a financial services license?

The process typically involves submitting an application to the relevant regulatory authority, providing necessary documentation, and demonstrating adherence to regulatory and compliance requirements.

Are there any restrictions on foreign investments in Bangladesh’s financial sector?

Yes, there are certain restrictions and requirements for foreign investors, including compliance with the Foreign Exchange Regulation Act and other relevant guidelines set by the Bangladesh Bank.

How can a lawyer assist in mergers and acquisitions within the financial sector?

A lawyer can assist by conducting due diligence, ensuring regulatory compliance, structuring transactions, negotiating terms, and managing legal documentation.

What steps should organizations take to combat money laundering?

Organizations should implement comprehensive AML policies, train staff, conduct risk assessments, and maintain records to detect and report suspicious activities as per the Money Laundering Prevention Act.

Additional Resources

For further assistance, you may consider contacting these resources:

  • Bangladesh Bank: The central bank and main regulatory body for financial affairs in Bangladesh.
  • Bangladesh Securities and Exchange Commission (BSEC): Oversees the securities markets and issues related regulations.
  • Insurance Development and Regulatory Authority of Bangladesh: Regulates the insurance industry.
  • Local Law Firms: Many law firms specialize in financial services regulation and can provide expert advice and representation.

Next Steps

If you need legal assistance in financial services regulation, consider the following steps:

  1. Identify the specific area of financial services regulation with which you require assistance.
  2. Consult with a lawyer specializing in financial services for initial advice and to understand your legal standing.
  3. Gather necessary documentation and evidence relevant to your case or inquiry.
  4. Maintain open communication with your legal counsel to stay informed of your legal obligations and any updates in the law.
  5. Evaluate the legal strategies proposed by your lawyer and understand the potential outcomes.
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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.