Regulatory Alerts2026-01-08
Added
FEPD-1 Circular No. 03: Streamlining the disposal of inward remittances and enhancing operational efficiency
Authorized Dealers in Bangladesh must notify customers via secure electronic channels upon receipt of inward remittances and credit funds to beneficiaries' accounts using straight-through processing or risk-based expedited processing. Inward remittances received during banking hours must be credited on the same business day, while those received after hours must be credited by the next business day, provided all required details are available. For cases requiring pre-credit verification due to high-risk jurisdictions, new customers, or incomplete information, settlement must be completed within three business days. The circular discontinues Form-C and Form-C (ICT), mandates the use of Unique End-to-End Transaction References for end-to-end traceability, and requires intraday nostro account reconciliation intervals not exceeding 60 minutes. Authorized Dealers have a transition period until March 31, 2026, to fully operationalize these frameworks, which take immediate effect.