Regulatory Alerts2024-07-31
Added · Updated
FEOD Circular No. 03: Instructions regarding accurate, complete and timely reporting in the Foreign Exchange Dashboard
The Foreign Exchange Operations Department of Bangladesh Bank mandates scheduled banks to report foreign exchange transactions in the Foreign Exchange Dashboard within 8 hours of contract establishment, receipt, or currency payment/receipt. Banks must provide accurate and complete data in specified modules, adhere to reporting requirements outlined in FE Circular Letter No. 10 (Sept 18, 2023) and FE Circular No. FEPI(Import Policy)123/2014-07 (May 5, 2014), and establish internal monitoring mechanisms at their head offices. These instructions are issued under Section 20(3) of the Foreign Exchange Regulation Act, 1947, and Section 45(1)(g) of the Bank Company Act, 1991, and take immediate effect.
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