BRPD Circular Letter No. 12: Foreign exchange dealing by a Non-AD branch

Banking Regulation and Policy Department
Bangladesh Bank
Head Office
Dhaka.
BRPD Circular Letter No. 12 October 23, 2012
Kartik 08, 1419

Managing Director/Chief Executive
All Scheduled Banks Operating in Bangladesh

Dear Sir,

Regarding the conduct of foreign exchange business by non-Authorized Dealer (Non-AD) branches.

It has been observed recently that some non-Authorized Dealer (Non-AD) branches are engaging in foreign exchange-related activities. In this regard, it is mentioned that although the permission letter for opening a bank branch contains a condition requiring obtaining approval from the Foreign Exchange Policy Department of this Head Office for conducting transactions/dealing in foreign currency, some branches are conducting transactions/dealing in foreign currency/buying bills in foreign currency or related activities without an approved dealer license, which is in no way acceptable.

In view of the above, instructions are issued to refrain from conducting transactions/dealing in foreign currency/bill purchases or any foreign trade-related activities through any bank branch without an approved dealer license.

These instructions shall take immediate effect.

(Khandkar Morshed Milsonat)
Deputy General Manager
Phone: 9530292
Date: