Regulatory Alerts2022-05-26
Added
ISMD Circular Letter No. 01: Regarding Submission of Data to Integrated Supervision System (ISS)
The document amends the submission deadlines for data and certification reports related to the Integrated Supervision System (ISS) for all scheduled banks in Bangladesh. Specifically, it changes the deadline for uploading monthly ISS Forms 1 & 2 from the 25th of the following month to the last day of the following month. Additionally, it shortens the deadline for submitting the certification report verifying data accuracy from the 30th of the following month to within five working days after data submission.
Integrated Supervision Management Department Bangladesh Bank Head Office Dhaka. Ref No.: ISMD/Regulatory/Circular/01 ISMD Circular Letter No.-1 Date: 12 Jyestha 1429 Bangabda 26 May 2022 AD To: The Chief Executive Officers All Scheduled Banks operating in Bangladesh.
Dear Sir, Subject: Regarding Submission of Data to Integrated Supervision System (ISS).
Reference is invited to ISMD Circular No.-1 issued on 07 September 2020 on the above subject.
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Paragraph 1.1 of the said circular instructs that the Head Office and branches of scheduled banks must upload the forms containing accurate data entered into ISS Forms 1 & 2 on a monthly basis to the website of Bangladesh Bank (https://www.bb.org.bd) and inform this department by the 25th of the following month (if the 25th falls on a weekly or official holiday, then on the preceding working day). On the other hand, Paragraph 1.8 instructs that to ensure the accuracy of data submitted to ISS (of branches and head offices), the certificate according to the sample given in Annexure-1 for the relevant month must be submitted to this department by the 30th of the following month.
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Now, the instructions under Paragraphs 1.1 and 1.8 shall be replaced as follows: Paragraph 1.1: "The Head Office and branches of scheduled banks must upload the forms containing accurate data entered into ISS Forms 1 & 2 on a monthly basis to the website of Bangladesh Bank (https://www.bb.org.bd) and inform this department by the last day of the following month (if the last day is a holiday, then on the next working day)." Paragraph 1.8: "To ensure the accuracy of data submitted to ISS (of branches and head offices), the certificate for the relevant month must be sent to this department within 5 (five) working days after the submission of data, according to the sample given in Annexure-1."
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Other instructions contained in ISMD Circular No.-1/2020 shall remain unchanged. This instruction shall come into force immediately.
Yours faithfully, (Himanshu Laskar) Deputy General Manager Phone: 57165901