Regulatory Alerts2020-07-30
Added · Updated
BRPD Circular Letter No. 40: Account Opening Form & KYC Profile of the Banks
The Banking Regulation and Policy Department extends the mandatory implementation deadline for updated account opening forms to September 30, 2020, due to the COVID-19 outbreak. This extension applies to scheduled banks in Bangladesh and supersedes the previous June 30, 2020 deadline set in Circular Letter No. 02. Banks must submit copies of the updated forms to the department within ten working days of implementation.
Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. BRPD Circular Letter No. 40 Date: 15 Srabon 1427 30 July 2020 Managing Director/Chief Executive All Scheduled Banks operating in Bangladesh. Dear Sir, Regarding Account Opening Forms and KYC Profile of Banks
-
We draw your attention to BRPD Circular Letter No. 02, dated: 23 February 2020, on the subject cited above.
-
Through the aforementioned circular, instructions were issued to make bank account opening forms more customer-friendly regarding account opening forms and KYC profiles. Paragraph 7 of the aforementioned circular instructed the mandatory implementation of updated account opening forms by 30 June 2020.
-
Now, considering the current context created by the outbreak of COVID-19, the deadline for implementing updated account opening forms is extended until 30 September 2020. Besides this, all other instructions of BRPD Circular Letter No. 02, dated: 23 February 2020, will remain unchanged. After implementing the updated forms within the extended period, copies of the forms must be sent to this department within the next 10 (ten) working days.
-
These instructions are issued under Section 45 of the Bank Company Act, 1991.
Yours faithfully, (Md. Nazrul Islam) Deputy General Manager Phone: 9530252. Copy to:
- Director, BRPD.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.