Regulatory Alerts2024-08-15
Added · Updated
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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