Regulatory Alerts2019-07-30
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DCM Circular No. 05: Providing note detecting services by the officials of scheduled banks to the cattle traders in Qurbani haat for prevention of fake notes
The Department of Currency Management of Bangladesh Bank directs scheduled banks to provide free note verification services at approved cattle markets in Dhaka North and South City Corporations and other districts during the upcoming Eid-ul-Azha to prevent the circulation of counterfeit currency. Banks must deploy experienced cash officers with counterfeit detection machines, establish booths with appropriate signage and security measures, and display educational materials on banknote security features. The circular specifies the allocation of responsibilities among various banks for specific markets, requires coordination with local authorities and police for safety, and mandates the submission of a compliance report within ten days of the festival's conclusion.
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