DCM Circular Letter No. 02: Display of notice regarding exchange of soiled and mutilated notes by the scheduled bank branches

50119

Bangladesh Bank
(Central Bank of Bangladesh)
Head Office
Motijheel, Dhaka-1000
Bangladesh.

Department of Currency Management
(Issue Accounting Branch)

DCM Circular Letter No. 02/2023

Date: 06 Asharh, 1430
20 June, 2023

Managing Director / Chief Executive Officer
All Scheduled Banks in Bangladesh.

Dear Sir,

Regarding the display of notice concerning the acceptance of torn, mutilated, and soiled notes at the branches of scheduled banks.

Reference is drawn to Circular No. Issuance No: 23(Policy)/2013-15 dated 14/01/2013 issued by this department on the subject matter mentioned above.

2. Paragraph 1 of Appendix 'A' of the aforementioned circular instructs that a notice stating "Torn, mutilated, and soiled notes are accepted" must be displayed at a place easily visible to the public in every branch of the bank. However, it has been observed through various surprise inspections conducted by this department and based on customer complaints that most branches of scheduled banks are not displaying the relevant notice and are not complying with other instructions of the said circular. As a result, the public is being deprived of the facility to exchange torn, mutilated, and soiled notes from the branches of scheduled banks.

3. In view of the above, you are hereby directed again to immediately display a notice in 20-point colored ink stating "Torn, mutilated, and soiled notes are accepted" at the front of the counter or at a place easily visible to the public in every branch of the bank, in accordance with the instructions of Paragraph 1 of Appendix 'A' of Circular No. Issuance No: 23(Policy)/2013-15 issued by this department on 14/01/2013, and to duly comply with the rules and regulations mentioned in the circular.

Yours faithfully,

(Signature)

(Md. Mokhsuduzzaman)
Director (DCM)
Phone: 9530090.

Phone: 88-02-9550448, 9554896, IP: 88-02-55662001-6, Fax: 88-02-9530479, www.bb.org.bd