Regulatory Alerts2017-10-08
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Arrangement to collect payment against foreign payment instruments
Authorized Dealers in Bangladesh are directed to arrange collection of payments against foreign payment instruments, such as cheques and foreign demand drafts, deposited by beneficiaries for employment or death benefits. If collection is impossible, banks must provide beneficiaries with written justified reasons and send a copy to Bangladesh Bank. Any reluctance by a bank branch to accept these instruments for collection will be treated adversely.
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