NBFIs get more time to info to Integrated Supervision System
Every month’s information has to be submitted within the last working day of the next month
The Bangladesh Bank has extended the deadline for non-bank financial institutions (NBFIs) to submit information to the Integrated Supervision System (ISS).
The Integrated Supervision Management Department issued a circular in this regard on Tuesday.
The circular said every month's information has to be submitted to the e-returns of the Bangladesh Bank within the last working day of the next month.
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Besides, the information accuracy check certificate has to be submitted within five working days after the submission of the information.
Banks and financial institutions submit all kinds of information, including deposits and loan disbursements, to the ISS.
The information needs to be submitted on the website of the central bank by filling in the required forms.
Earlier, the deadline for financial institutions to submit information was 15th of the following month and that to submit certificates was 20th.
On the other hand, the deadline for submitting information for banks was 25th of every month, and that for submitting certificates was 30th.
The circular on submitting information to the ISS issued on 5 February 2018 said financial institutions are obliged to provide accurate information in the system to make the financial sector's supervision more robust and effective.
It said the central bank could fine these institutions or take punitive measures against them if they do not provide information or provide incorrect or incomplete information.
If the information cannot be provided within the stipulated time for any reason, a written application can be submitted to the central bank seeking extension. But repeated requests for extension will not be accepted, the circular added.
