BFIU Circular Letter No. 01: Circular letter regarding Cash Transaction Report (CTR)

The Bangladesh Financial Intelligence Unit (BFIU) mandates that cash deposits are excluded from Cash Transaction Reports (CTR) effective from the August 2024 reporting period, while cash withdrawal reporting requirements remain unchanged. This directive suspends the previous obligation to report cash deposits exceeding 1 million BDT or equivalent foreign currency in a single account on a specific day. Scheduled banks operating in Bangladesh must ensure this instruction is communicated to all relevant parties.

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Bangladesh Financial Intelligence Unit
Bangladesh Bank
Head Office, Dhaka. www.bfiu.org.bd

BFIU Circular Letter No. 01

Date: 31 Srabon 1431
15 August 2024

Chief Executive Officer / Managing Director
All Scheduled Banks operating in Bangladesh.

Regarding the non-inclusion of cash deposits in the Cash Transaction Report (CTR).

Dear Sir,

Reference is drawn to the directive in paragraph 6 of BFIU Circular No. 26 issued on 16 June 2020. According to the said directive, there is an obligation to submit a Cash Transaction Report (CTR) to the BFIU on a monthly basis in the case of deposit or withdrawal (any type of cash deposit or withdrawal including online, ATM, etc.) of money or equivalent foreign currency amounting to 1,000,000 (one million) Taka or above through one or more transactions in a specific account on a specific day.

Now, until further notice, cash deposits shall not be included in the Cash Transaction Report (CTR). However, other directives of the said circular regarding cash withdrawals shall remain in force.
This directive shall be effective from the Cash Transaction Report (CTR) of August 2024. Ensure that this matter is brought to the knowledge of all parties.

Yours faithfully,

(Signature)
(Imtiaz Ahmed Masum)
Director (BFIU)
Phone: 9530170

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Lineage: Superseded

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Timeline

Amended 1 time · last 2024-10-24

2024-10-24BBBFIU Circular Letter No. 02: Circular letter regarding Cash Transaction Report (CTR)supersedes

This document supersedes: BFIU Circular No. 26: Instructions to be followed by schedule banks for prevention of money laundering, terrorist financing and proliferation financing

Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works