The central bank of Bangladesh. Photo: BBN
Dhaka, Bangladesh (BBN) - Bangladesh Bank (BB) issued show cause notice to nine banks for quoting higher BC (bill for collection) Selling rates than they notify to the regulator.
The banks are: Trust Bank, The City Bank, NCC Bank, Dutch-Bangla Bank, Basic Bank, Mutual Trust Bank, Exim Bank, Dhaka Bank and Prime Bank.
The chief executive officer (CEO) and managing director of the banks have been asked to submit the reply of the show-cause notices by October 31 to the central bank of Bangladesh.
“We will take necessary action after examining the replies of the banks concerned,” a senior BB official told the BBN after sending the notice.
“The banks quoted the BC Selling rates ranging between BDT 84.70 and 84.95 while they (banks) reported to the central bank the BC Selling rate at 83.85,” he added.
BBN/SS/ANS