Regulatory Alerts2023-12-06
Added
PSD Circular No. 13: About crediting beneficiaries MFS account with proceeds of foreign remittance
The circular permits banks to directly credit up to BDT 250,000 (excluding cash incentive funds) from foreign remittances received via banking channels into beneficiaries' Mobile Financial Services (MFS) accounts. It prohibits further cash-in transactions or money additions to an MFS account if its balance exceeds BDT 300,000 until the balance falls back within that limit. All other MFS transactions remain subject to the guidelines in PSD Circular No. 06/2022 dated April 25, 2022, and the previous PSD Circular No. 06/2019 is hereby repealed.
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