Regulatory Alerts2015-03-15
Added · Updated
BFIU Circular Letter No. 2: Introduction of Uniform Account Opening Form & KYC Form for Financial Institutions
The Bangladesh Financial Intelligence Unit mandates all financial institutions to implement uniform account opening and KYC forms by June 30, 2015, in compliance with the Anti-Money Laundering Act, 2012. Institutions must collect mandatory information in both Bengali and English, retain the standard forms, and report implementation measures to the unit by July 7, 2015. The directive specifies distinct forms for individual and non-individual accounts, requiring detailed customer identification, beneficial owner disclosure, and risk grading procedures.