Regulatory Alerts2010-11-23
Added · Updated
FEID Circular Letter No. 02: Waiver of regular submission of some quarterly statements under Section 18A and 18B of FER Act-1947
The Foreign Exchange Investment Department of Bangladesh Bank waives the requirement for authorized local agents and foreign company branches to regularly submit quarterly commission and expense statements to the department's Retail and Remittance sections. Instead, authorized dealer banks are now directly responsible for ensuring compliance with Section 18A and 18B of the Foreign Exchange Regulation Act, 1947, and must report any violations immediately. The circular also mandates that banks retain relevant documents for inspection and specify new documentation requirements for license renewals or changes in authorized dealer banks.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.