Regulatory Alerts2018-08-14
Added · Updated
DCM Circular Letter No. 05: Providing note detecting services by bank officials to cattle traders in the cattle market for fake note prevention
The Department of Currency Management of the Bangladesh Bank directs all scheduled banks to establish counterfeit note detection booths at approved cattle markets in Dhaka and other districts prior to Eid-ul-Azha 2018. Banks must provide free note verification services using experienced cash officers and machines, display banners, and coordinate with local city corporations, police, and RAB. The circular assigns specific banks to designated markets in Dhaka North and South City Corporations, requires the submission of coordinator details by August 16, 2018, and mandates the display of authentic note feature videos on customer monitors. Banks must submit a compliance report within 10 working days after the conclusion of Eid-ul-Azha.
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