Regulatory Alerts2025-04-13
Added
FEOD Circular Letter No. 1: Payment of Overdue Accepted Bill (Foreign or local)
The Foreign Exchange Operations Department of Bangladesh Bank mandates approved dealer banks to implement detailed monitoring plans for overdue accepted bills, including branch-level performance evaluations and specific oversight for branches with high unpaid amounts. Banks are required to notify suppliers' banks if bills are non-payable due to legal cases and to submit monthly reports via the Core Banking System. These instructions, issued under the Foreign Exchange Regulation Act, 1947 and the Bank Company Act, 1991, take immediate effect to ensure timely payment and protect the banking system's reputation.
Topics
credit
fx
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