Banks have to report all changes to the central bank

Scheduled banks have been instructed to inform the central bank of any temporary or permanent change.

The Deposit Insurance Department (DID) of Bangladesh Bank issued a circular in this regard on Tuesday, says a press release.

According to the circular, banks submit their deposit insurance premiums to Bangladesh Bank every six months. However, the deposit insurance premium calculation process is being hampered due to the failure of banks to inform in time, the relevant department, i.e, the DID, at the central bank, about any fundamental changes.

As such, the central bank has advised that the relevant central bank department be informed in time about any changes made at scheduled banks, to ensure free and transparent accounting.