Bangladesh, Nov. 4 -- The central bank has allowed authorised dealer (AD) banks to offer foreign currency (FC) custodial account facilities to licensed money changers to ensure secure cash management and mitigate risks associated with the physical transportation of foreign currencies.

Advertisement These accounts will be used exclusively for the safe custody, deposit and withdrawal of physical foreign currency notes and will not carry interest, according to a circular issued by the Bangladesh Bank (BB) on Wednesday.

It also said deposits may be made irrespective of the ceiling, subject to documented business turnover and transaction profiles.

To ensure security, money changers shall maintain valid cash-in-transit (CIT) insurance, the ...