DFIM Circular Letter No. 05: Opening of business development centre

Department of Financial Institutions and Markets Bangladesh Bank Head Office Dhaka-1000. DFIM Circular Letter No. 05 Date: Chief Executive/Managing Directors, All Financial Institutions operating in Bangladesh Dear Sir,

Regarding the establishment of Business Development Centers by Financial Institutions

Reference is drawn to your attention to DFIM Circular No. 07, dated: June 28, 2010, on the subject cited above.

In order to bring dynamism to the operations of Financial Institutions, the following paragraph is added to Section 'G' of the aforementioned Circular for the establishment of Business Development Centers/Customer Service Centers/Call Centers/Unit Offices/Sales Offices:

Along with the establishment/transfer of branches/booths of Financial Institutions, for the establishment of any type of Business Development Center (Business Development Center/Customer Service Center/Call Center/Unit Office/Sales Office, etc., regardless of the name by which it is referred), an application for prior approval from the Bangladesh Bank must be made in the specified format (Appendix 'A') along with a copy of the management board resolution. No financial transactions related to accepting deposits or granting loans/leases shall be conducted at such establishments. However, area-based customer service, advisory services, receipt and resolution of complaints, human resource development of the institution, and other non-core business activities may be conducted.

Yours faithfully,

(Md. Sahidul Islam) General Manager Phone: 9530178 March 21, 2019 07 Chaitra 1425

Appendix 'A' Information regarding the establishment of Business Development Centers

1. Name of the Financial Institution:
2. Number of existing Business Development Centers:
3. Address of the proposed Business Development Center:
4. Purpose of establishing the Business Development Center:
5. Name and distance of the controlling branch/office:
6. Does the Chief Executive/Managing Directors of the Financial Institution have any conflict of interest in the selection of the building for the proposed office and the purchase of any furniture for office decoration? (A declaration regarding this must be submitted separately along with the application)
7. Details of building rent for the proposed Business Development Center: (The rent of the proposed building must be market-based.)
8. Potential manpower for the proposed Business Development Center:
9. Cost of opening the proposed Business Development Center: (The cost-related items must be attached separately in the following table format, and the instructions of Section 2(b) of DFIM Circular No. 12 dated November 18, 2015, shall apply in this regard)

S.No.	Cost Head/Description	Cost Amount (Taka)	Remarks
10.	Details of safety measures taken:

11. Others (where applicable):

(Signature of Managing Director/Chief Executive)