FEPD Circular Letter No. 24: Statutory business target for licenced Money Changers (MCs)

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd

Circular Letter No. 24 Date: 23 June, 2020

Head offices/principal offices of all Authorized Dealers and Licenced Money Changers in Bangladesh.

Dear Sirs,

Statutory business target for licenced Money Changers (MCs)

Please refer to paragraph 11, chapter 2 of the Guidelines for Foreign Exchange Transactions-2018 (GFET), Vol-1 regarding statutory business volume of foreign exchange transactions to be achieved annually by licenced MCs mandatorily for renewal of licences.

Considering the business situation due to the breakout of Coronavirus (COVID-19), it has been decided that applications for renewal of MC licences shall be proceeded without the requirement to achieve statutory annual business target.

The above instruction shall be applicable only for the year 2020. Other instructions in this regard shall remain unchanged.

Yours faithfully,

(Mohammad Khurshid Wahab) General Manager Phone: 9530123