DFIM Circular No. 12: Guidelines on Core Business Solution (CBS) Features and Controls for Non-Bank Financial Institutions

Department of Financial Institutions and Markets Bangladesh Bank Head Office Dhaka. Ref No.: DFIM.CBS.NBFI

DFIM Circular No. 12

Managing Director / Chief Executive Officer All Financial Institutions operating in Bangladesh.

Dear Sir,

This is to bring to your attention that the "Guidelines on Core Business Solution (CBS) Features and Controls for Non-Bank Financial Institutions" have been formulated to ensure uniformity in the accounting, reporting, and use of Core Business Systems by financial institutions, and to ensure minimum standards.

2. The guidelines have been uploaded on the website of Bangladesh Bank with the following link: Link: https://www.bb.org.bd/en/department/dfim/guideline Category: Guidelines on CBS Features and Controls for Non-Bank Financial Institutions Subject: Guidelines on Core Business Solution (CBS) Features and Controls for Non-Bank Financial Institutions.

3. You are hereby directed to implement the Core Business Solutions containing the features and controls specified in the guidelines by December 31, 2024. Regarding this, a quarterly progress report on the module-based implementation of the guidelines must be sent to this department within 07 (seven) days of the end of each quarter.

4. This directive is issued under the power granted by Section 18(6) of the Non-Bank Financial Institution Ordinance, 1993.

Yours faithfully,

Date: 01 Agrahayan 1430 16 November 2023

Draft Circular Lotter (Md. Asaduzzaman Khan) Director (DFIM) Phone: 9530178