Regulatory Alerts2025-06-03
Added
ABD Circular No. 01: Regarding ISO 20022 Standard Migration on SWIFT System
The Bangladesh Bank mandates all scheduled banks operating in the country to complete preparations for migrating SWIFT system transactions from the MT format to the ISO 20022 MX format by June 2025. Banks are required to initiate testing in July 2025, provide necessary staff training, and ensure live operations are established by October 2025. This directive enforces the SWIFT Corporation's final deadline of November 22, 2025, after which MT message transactions will no longer be supported on the SWIFT system.
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