Bangladesh, Nov. 5 -- The Bangladesh Bank (BB) 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 would be used exclusively for the safe custody, deposit, and withdrawal of physical foreign currency notes and would not carry interest, according to a central bank circular 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 would maintain valid cash-in-transit (CIT) insurance, the circular sa...