Regulatory Alerts2016-12-27
Added · Updated
FEPD Circular Letter No. 32: Regarding Policy for establishment of Drawing Arrangement between the Exchange House abroad and the Bank operating in Bangladesh
The document amends the security deposit requirements for establishing drawing arrangements with foreign exchange houses under the NDF (Non-Deliverable Forward) method. The maximum amount for a Bank Guarantee or Cash Deposit is reduced from BDT 25,000 to BDT 10,000, and the limit for Cash/Cheque is reduced from BDT 500,000 to BDT 200,000. It explicitly prohibits providing any overdraft facility to Money Transfer Organizations.
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