Regulatory Alerts2016-08-08
Added · Updated
FEID Circular Letter No. 01: Warning against enticing investment proposal from suspicious foreign person/firm
The Foreign Exchange Investment Department of Bangladesh Bank warns authorized dealer banks against enticing investment proposals from suspicious foreign persons or firms that lack proper licensing and transparency. Banks are required to verify the identity, reputation, and legitimacy of fund providers, confirm the authenticity of any associated institutional procedures, and advise entrepreneurial clients to exercise caution. Authorized dealer banks must inform their regional and branch managers and entrepreneurial clients accordingly, and report the measures taken to the department within two weeks of the letter's date.
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