The central bank issued a letter to foreign exchange departments of banks on Sunday to make records under international card monitoring system

Bangladesh Bank has asked the authorised foreign exchange dealers to record every transaction made through international credit or other cards on daily basis.

The central bank issued a letter to foreign exchange departments of banks on Sunday to make records under international card monitoring system.

They were asked to report transactions conducted through international cards by their respective customers as well as inward remittance received from the usage of international cards in Bangladesh issued abroad.

The banks are no longer required to submit monthly statements to Bangladesh Bank as per regulation. But the foreign exchange departments of banks are now responsible for submitting the statements.

The authorised dealers will prepare and report purpose-wise and country-wise transactions of foreign exchange. International cards transaction of executives of export processing zones and economic zones will be considered a statement of transfer by authorised dealers.

In 2013, the central bank allowed the use of international credit cards in online purchase of goods and services.

SHARE