Bangladesh Bank issued this circular on Saturday. According to the central bank, bringing the instructions together in one place with necessary amendments and updates will make it easier to grant and renew licenses and conduct related activities.
The circular, arranged in six parts, provides instructions on license issuance and renewal, foreign exchange transactions, gold import and export, prevention of money laundering, prevention of terrorist financing, submission of reports, and Bangladesh Bank's authority for inspection and cancellation of licenses.
According to the circular, if a decision is made to issue a new license, authorized dealer banks may process applications for money changer and authorized gold dealer licenses on behalf of customers and send them to Bangladesh Bank.
The circular will remain in effect for one year from the date of issuance. Previous instructions on the matters included in it will be deemed cancelled in the relevant areas. However, it must be followed in coordination with new instructions and amendment circulars issued later.
