Regulatory Alerts2024-01-16
Added
BRPD Circular Letter No. 04: Restriction on Fund Transfer from Domestic Banking to Offshore Banking
Bangladesh Bank abolishes the transfer of funds from domestic banking to offshore banking for all scheduled banks operating in Bangladesh. Banks are instructed to gradually reduce and fully adjust all funds previously transferred from domestic banking to offshore banking by December 31, 2024. This instruction is effective immediately and remains in force until further notice, while other instructions from BRPD Circular No. 2/2019, BRPD Circular Letter No. 31/2020, and BRPD Circular Letter No. 9/2021 remain unchanged.
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