Regulatory Alerts2020-09-07
Added · Updated
ISMD Circular No. 01: Master Circular Regarding Submission of Data to Integrated Supervision System (ISS)
This circular consolidates previous directives and mandates scheduled banks in Bangladesh to submit data to the Integrated Supervision System (ISS) via the Bangladesh Bank website by the 25th of the following month for monthly forms and within 30 days of branch registration for new branches. Banks must establish an ISS Desk at their head office staffed by a senior officer, maintain backup copies of submitted Excel/CSV files, and submit a certificate of accuracy by the 30th of the following month. Additionally, banks are required to conduct regular in-house training on ISS reporting procedures, report training details annually by January 20th, and submit quarterly Credit Limit (CL) statements and audited annual financial reports within specified deadlines, with non-compliance subject to penalties under Section 109 of the Companies Act, 1991.
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