Regulatory Alerts2012-07-11
Added · Updated
BRPD Circular No. 10: Acceptance and Purchase of Inland Bill
Bangladesh Bank requires all scheduled banks to obtain written prior approval from their Head Office before purchasing any inland bills in local or foreign currency, replacing branch-level decision-making. Additionally, banks are prohibited from accepting or paying for any goods underlying letters of credit unless actual delivery of the goods is verified on-site. These instructions are effective immediately to prevent the creation of accommodation bills for fund raising without genuine commercial transactions.
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