Regulatory Alerts2011-02-28
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DCMPS Circular Letter No. 04: Distribution of dividend through EFTN
The Department of Currency Management and Payment Systems of Bangladesh Bank advises all scheduled banks and financial institutions to distribute dividends to shareholders via the Electronic Fund Transfer Network (EFTN). This recommendation follows the launch of the EFTN program on February 28, 2011, which facilitates easy, cost-effective, instant, and secure fund transfers.
DEPARTMENT OF CURRENCY MANAGEMENT AND PAYMENT SYSTEMS (PAYMENT SYSTEMS DIVISION) BANGLADESH BANK HEAD OFFICE DHAKA. Circular No.: 04 Date: 06 April 2011 23 Chaitra 1417 To All Scheduled Banks and Financial Institutions.
Dear Sir,
Regarding the distribution of dividends to shareholders through the Electronic Fund Transfer Network (EFTN).
With reference to the subject cited above, it is informed that the Electronic Fund Transfer Network (EFTN) program has been launched from 28/02/2011. Through this arrangement, it is easy, cost-effective, instant, and secure to transfer funds to any bank account holder.
It is now advised to you to distribute dividends payable to shareholders of commercial banks and financial institutions through the Electronic Fund Transfer Network (EFTN).
Yours faithfully,
(A.K.M. Fazlur Rahman) Deputy General Manager Phone: 7123443
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