Regulatory Alerts2019-03-24
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DFIM Circular Letter No. 05: Opening of business development centre
The document amends Circular No. 07 dated June 28, 2010, by adding a new paragraph to Section 'G' requiring financial institutions to submit a specific application form (Appendix 'A') along with a management board resolution to the Bangladesh Bank for prior approval before establishing any business development center, customer service center, call center, unit office, or sales office. These centers are strictly prohibited from accepting deposits or conducting credit/lease transactions, and are limited to area-based customer service, advisory services, complaint handling, and human resource development. The application must include details on the center's address, purpose, distance from the controlling branch, furniture procurement conflicts, rental costs, staff numbers, and a detailed cost breakdown.
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