Regulatory Alerts2026-04-08
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Circular Letter No. 09: Preservation and Use of Information of Penalized Employees of Financial Institutions through CMMS (Corporate Memory Management System)
The Circular Letter No. 09 issued by the Department of Financial Institutions and Markets (DFIM) of Bangladesh Bank mandates financial institutions to preserve and utilize information regarding penalized employees through the Corporate Memory Management System (CMMS). This directive expands the scope of the previous circular (No. 03) to include not only penalized employees but also penalized officers. The instructions are issued under the authority granted by Section 41(3) of the Financial Companies Act, 2023, and take effect immediately.
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