Regulatory Alerts2014-06-30
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FSD Circular No. 03: Submission of Quarterly Asset-Liability and Profit-Loss Statements
Financial Institutions in Bangladesh must submit quarterly asset-liability and profit-loss statements to the Financial Stability Department in accordance with Article 12 of the Financial Institutions Act, 1993. The circular establishes a submission schedule requiring profit-loss statements by the last working day of the month following the quarter's end, while asset-liability statements are due within 45 days for the March quarter and by the last working day of the following month for June, September, and December quarters. Additionally, one copy of the statements for the quarters ended June and September 2014 must be submitted by October 30, 2014. These requirements take immediate effect.
Financial Stability Department Bangladesh Bank Head Office Dhaka website: www.bb.org.bd 30 June 2014 FSD Circular No. 03 Date: ----------------------- 16 Ashar 1421 Managing Directors/Chief Executives All Financial Institutions in Bangladesh Dear Sir, Submission of Asset-Liability and Profit-Loss Statements on Quarterly Basis In terms of Article 12 of the Financial Institutions Act, 1993, asset-liability and profit-loss statements of the Financial Institutions shall have to be submitted to the Financial Stability Department according to the following schedule: Quarter Period regarding profitloss statement Base date regarding asset-liability statement Submission deadline March January 01-March 31 March 31 Next 45 days June April 01-June 30 June 30 Last working day of the following month September July 01-September 30 September 30 Last working day of the following month December October 01-December 31 December 31 Last working day of the following month Moreover, 01(one) copy of asset-liability and profit-loss statements of each quarter ended in June 2014 and September 2014 shall have to be submitted within October 30, 2014. This circular shall come into force with immediate effect. Please acknowledge receipt. Yours sincerely, Sd/- (Debashish Chakrabortty) General Manager Phone: 9530279
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