Regulatory Alerts2025-12-15
Added
DCM Circular No. 04: Regarding payment/disposal of mutilated and claimable notes
Bangladesh Bank mandates that scheduled banks provide full exchange value at the counter for non-issuable and mutilated notes containing more than 90% of the original area, while claimable notes (90% or less) and charred notes must be forwarded to the central bank for settlement via Form L-2. The circular establishes specific criteria for classifying notes as re-issuable, non-issuable, mutilated, claimable, or charred, and requires branches to display notices detailing these exchange policies and legal actions against forged or built-up notes. Banks must maintain a permanent register of claimable notes for ten years and report monthly data on note acceptance to their principal offices.
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