FE Circular No. 17: Money Changers FX Returns

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 17 Date : 30 September, 2009 All Authorized Dealers and licensed Money Changers of Foreign Exchange in Bangladesh Dear Sirs, Submission of Monthly Returns by Money Changers Attention is drawn to the instructions mentioned in Para 10, Chapter 2 of the Guidelines for Foreign Exchange Transactions, 2009 (Vol-1) regarding submission of monthly statements to Bangladesh Bank by Money Changers. 02. In addition to the above mentioned monthly statements, Money Changers will have to submit monthly returns of their foreign exchange transactions as per attached format to Statistics Department & Foreign Exchange Operation Department of Head Office and Foreign Exchange Policy Department of Area Offices of Bangladesh Bank through their authorized dealer banks. Since, authorized dealers will have to submit such reports within 15th instant of each month, concerned Money Changers will have to ensure submission of such returns to their authorized dealer banks beforehand by fulfilling the statements and schedules properly. 03. Money Changers will report 'Summary Statement' of their foreign exchange transactions in “Statement S-12” in light violate colored paper. The statement will accompany two Schedules namely MCR-1 and MCP-1. This is to mention that, separate statement and schedule are to be submitted for each currency (e.g. USD, EURO, GBP). 04. Money Changers will have to use their code designated to them in each statement and schedule. 05. ‘Code Lists for Reporting of External Sector Transactions by the Authorized Dealers’ will have to be used for country code and currency code, etc. 06. Authorized dealer banks are being advised to provide proper assistance to the Money Changers for filling up statement and schedule. If necessary authorized dealer banks may contact Statistics Department of Bangladesh Bank. All Money Changers will start submission of monthly returns as instructed above from November 2009 (for transactions of October 2009 and onwards). Please acknowledge receipt and inform this issue to all concerned. Yours Faithfully, Signed/- (Khandakar Abdus Selim) Deputy General Manager Phone : 7120375 Translated

S-12 Summary Statement of Reporting of Money Changers Foreign Exchange Transactions (To be submitted through ADs) For month ......................... Year............. Name of the Authorised Money Changer: Currency: USD/Pound Sterling/Euro/Japanese Yen/- Month Code Money Changer Code Currency Code Submitted Through ( Name of the Authorised Dealer Bank ).......................................... Sl. No. PURCHASES Purpose Code Amount 01 Opening balance (a+b) 1201 a) Cash foreign currency in hand 1202 b) Foreign currency A/C balance with scheduled bank 1203 Receipts 02 Amount purchased from non-residents (Cash/TC) 1204 (Schedule MCR-1) 03 Amount purchased from residents (Cash/TC) 1205 Exchange, Transfer and Adjustments: 04 Total credit on account of interest earned from FC A/C 1208 05 Transferred from FC account of other money changer ( on account of 1209 purchase) Grand Total

Sl. No. Sales Purpose Code Amount 01 Sale to Bangladeshi travelers or re-conversion allowed to foreign travelers 1210 (Cash/TC) (Schedule MCP-1) Exchange, Transfer and Adjustments: Receipts 02 Amount encashed to taka (a+b) 1214 a) Encashed from foreign currency account-Transferred to S-1 1215 b) Encashed from Note/coin/TC etc. -Transferred to S-6 1216 03 Transferred to FC account of other money changer ( on account of sale) 1217 04 Closing balance (a+b) 1218 a) Cash foreign currency in hand 1219 b) Foreign currency A/C balance with scheduled bank 1220 Grand Total Note: Non-residents: a) Bangladeshi nationals residing abroad b) Foreign travellers Residents: a) Bangladeshi travellers b) Resident foreign nationals .

Schedule MCR-1 Purchase of Foreign Currency from Non-resident Persons (Cash/T.C.) For month ......................... Year............. Name of the Authorised Money Changer: Currency: USD/Pound Sterling/Euro/Japanese Yen/- Month Code Money Changer Code Currency Code Sl. No. Name of the country Country Code Amount Purpose Code Total Note:

1. No T/M and C-Form is needed for above reporting.
2. If the country & currency of several accounts are same, then write name and code of the country & currency in appropriate place and the individual amount should be merged together against that country and be reported in aggregate amount.
3. Total of the schedule MCR-1 should be reported against purpose code no. 1204
4. Use next serial number for another country
5. Use another sheet for another currency Signature: Name: Designation: Telephone: Note: a) Use purpose cod for Bangladeshi nationals 5120 b) Use purpose cod for foreign travelers 1130 Note: Non-residents: a) Bangladeshi national residing abroad b) Foreign travelers

Schedule MCP-1 Sale to Bangladeshi Travellers or Re-conversion to foreign tourists (Cash) For month ......................... Year............. Name of the Authorised Money Changer: Currency: USD/Pound Sterling/Euro/Japanese Yen/- Sale to Bangladeshi Travellers/ Re-conversion to foreign tourists. Month Code Money Changer Code Currency Code Sl. No. Name of the country Country Code Amount Purpose Code Total Note:

1. No T/M and C-Form is needed for above reportings.
2. If the country & currency of several accounts are same, then write name and code of the country & currency in appropriate place and the individual amount should be merged together against that country and be reported in amount
3. Total of the schedule MCP-1should be reported against purpose code no. 1210
4. Use next serial number for another country
5. Use another sheet for another currency Signature: Name: Designation: Telephone: Note: a) Use purpose cod for Bangladeshi Travelers 1130 b) Use purpose cod for re-conversion to foreign travelers 1132