Regulatory Alerts2013-04-30
Added · Updated
Entry of transactions regarding Special Foreign Currency Account approved by BB using the software SFCAMS
All authorized dealer branches of scheduled banks must input daily transactions for Special Foreign Currency Accounts approved by the Foreign Exchange Policy Department into the SFCAMS software. Access is restricted to branches engaged in foreign exchange transactions, with logins obtained from Bangladesh Bank's website and credentials collected from the Foreign Exchange Policy Department. Entries for these accounts must be submitted at the close of each business day, with the requirement commencing on May 5, 2013. Reporting of all foreign exchange transactions to the Foreign Exchange Operation Department remains unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Web site: www.bb.org.bd Circular Letter No. FEPD(A&NFBP)/111/2013-490 Date: April 30, 2013 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Entry to Special Foreign Currency Account Monitoring System (SFCAMS) software designated by Bangladesh Bank (BB) Please refer to Chapter 13 of the Guidelines for Foreign Exchange Transactions (GFET),Vol-I (2009) wherein Authorized Dealers have been allowed to open Foreign Currency Accounts. Besides that Bangladesh Bank extends it’s permission arena by allowing Authorized Dealer Banks to open Special Foreign Currency Account with some stipulated conditions laid down the permission letter. 02. Now it has been decided that all authorized Dealer Branches of Scheduled Banks shall input the entry of daily transactions to these special foreign currency accounts approved by Foreign Exchange Policy Department through Special Foreign Currency Account Monitoring System (SFCAMS) software. Directions to operate the software are stipulated below: a. Only Authorized Dealer branches engaged in foreign exchange transactions shall have access to this software. b. Log in to the software shall be performed from Bangladesh Bank’s website www.bb.org.bdservices-E-services-SFCAMS. c. For log in purpose definite user ID and password should be collected from the Foreign Exchange Policy Department . d. At the closure of each business day every foreign exchange transaction shall be entered into the system using the said software. e. Entry of such accounts approved by Foreign Exchange Policy Department shall be commenced from 05 May, 2013. f. For more information contact address is hosneara.nasreen@bb.org.bd Reporting of all foreign exchange transactions to Foreign Exchange Operation Department shall remain as usual. Please bring these instructions to the notice of all concerned. please acknowledge receipt of it.
Yours faithfully, (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone:9530250
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