FEPD Circular Letter No. 05: Requirement of membership with relevant association for money changing operations

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