Regulatory Alerts2009-10-05
Added · Updated
FE Circular No. 19: Settlement of Current Account Transaction with Maldives in ACU Mechanism
Authorized Dealer banks in Bangladesh must maintain nostro accounts in ACU Dollar or ACU EURO with correspondent commercial banks in Maldives to settle current account transactions with Maldivian residents. These banks are instructed to take necessary actions by 31 October 2009 to ensure settlement via the Asian Clearing Union mechanism from 01 January 2010. Additionally, a compliance report regarding these instructions must be submitted to the Foreign Exchange Policy Department by 15 November 2009.
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