RegAlertRule · BB · 1 Jun 2023
FEPD Circular Letter No. 05: Requirement of membership with relevant association for money changing operations
Licensed Money Changers operating in Bangladesh are required to become members of the relevant association representing the sector by June 30, 2023. This mandate applies to all licensed Money Changers and is based on section-II, chapter 2 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Volume-1. Designated Authorized Dealers are advised to follow up with their Money Changer customers to ensure meticulous compliance with this requirement.
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular Letter No. 05 Date: June 01, 2023
All Authorized Dealers and licensed
Money Changers in Bangladesh.
Dear Sirs,
Requirement of membership with relevant association for money changing operations. Please refer to section-II, chapter 2 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Volume-1 and its subsequent instructions regarding the procedures to be observed by licensed Money Changers (MCs) for regular money changing operations including formalities for obtaining renewal of licenses from Bangladesh Bank.
02. To streamline the operations of money changing business, it is necessary for licensed
MCs to be a member of relevant association representing the sector. Accordingly, Money Changers operating in Bangladesh are hereby advised to be a member of relevant association within June 30, 2023. Licensed MCs shall observe the content of this circular and designated Authorized Dealers are advised to follow up with their MCs-customers for meticulous compliance thereof. Yours faithfully, (Md. Sarwar Hossain) Director (FEPD) Phone: 9530123
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Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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