Dhaka, Bangladesh (BBN)- The Bangladesh Bank (BB) is going to establish an integrated automated system for sharing information on foreign trade between the central bank and the National Board of Revenue (NBR) shortly to check money fake imports.
“We’re going to introduce the integrated system to check irregularities in the foreign trade,” a BB senior official told BBN in Dhaka.
The BB official also said the central bank is now monitoring all kinds of foreign-exchange transactions through an electronic system, generally known as ‘dashboard’, to check fraud and forgery in the country’s banking sector.
The dashboard provides summary of export, import, inland back to back letter of credit (LC), inward and outward remittance separately with categorically separated details.
“We’ve strengthened our supervision and monitoring on foreign exchange transactions through coordinating on-site and off-site supervisions of the BB,” the central banker noted.
BBN/SSR/AD-23June14-1:15 pm (BST)