Regulatory Alerts2018-09-12
Added · Updated
BRPD Circular No. 10: Policy on Unclaimed Deposits and Valuables
This circular mandates scheduled banks in Bangladesh to deposit unclaimed deposits and valuables with the Bangladesh Bank after ten years of inactivity and a three-month notice period. Banks must submit annual lists of such items within thirty days of the fiscal year-end, publish transfer lists on their websites and in newspapers, and retain relevant documents. Claimants may recover funds within two years of transfer to the Bangladesh Bank, after which the assets become government property.
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