Regulatory Alerts2017-06-05
Added · Updated
DCM Circular Letter No. 02: Taking Necessary Steps by the Scheduled Banks for Fake Note Prevention in the Month of Holy Ramadan
The Department of Currency Management of Bangladesh Bank requires all scheduled banks to prevent counterfeit notes during the holy month of Ramadan by displaying videos of genuine banknote security features at specified high-traffic locations in Dhaka and other divisional cities, including Bogura, and on bank branch TV monitors throughout banking hours. Banks must also ensure mandatory note verification using counterfeit detection machines when receiving notes from customers, during note issuance, and before feeding cash into ATMs, in accordance with a directive dated December 11, 2013. The circular provides a schedule of specific banks, locations, and dates for the dissemination of these preventive measures.
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