Please refer to BPRD Circular No.05 dated March 12, 2015 and BPRD Circular Letter No.10 dated April 16, 2015 on the captioned subject.

2. In this connection, in addition to the positions mentioned in Para 5 of the aforesaid circular and Para 2 of the aforesaid circular letter, the position of Chief Financial Officer (CFO)/Head of Finance may also be exempted from compulsory rotation where necessary.

3. Further, banks/DFIs are advised to ensure implementation of rotation policy in letter and spirit at the earliest but not later than September 30, 2015. Compliance status in this regard needs to be furnished to this department by the end of first week of October, 2015.

4. All other instructions on the subject shall remain the same.

5. Please acknowledge receipt.