Regulatory Alerts2016-01-11
Added · Updated
DCM Circular No. 01: Receiving of notes irrespective of their denominated value, payment of exchange value of mutilated notes and exchange of coins with the customers by the Scheduled Bank
The Department of Currency Management of Bangladesh Bank directs all scheduled banks to accept all types of coins and paper notes from customers regardless of their denominated value. This directive aims to resolve public inconvenience caused by branches failing to properly accept coins, thereby ensuring normal and fair transactions. Non-compliance may result in penalties under the relevant sections of the Bank Company Act. This circular supersedes previous instructions and takes immediate effect.