Regulatory Alerts2023-02-07
Added
FEOD Circular No. 01: Regarding Endorsement on Passport
The Bangladesh Bank mandates that all approved dealer banks and money changers verify previous passport endorsements and check foreign currency expenditure amounts against the Online TM Form Monitoring System (OTFMS), International Card Monitoring System (ICMS), or Online Money Changer Monitoring System (OMCMS) before issuing new endorsements. Banks must also verify the total foreign currency spent in the same fiscal year against the previous passport number if applicable. These instructions are effective immediately and must be communicated to all relevant parties.
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