Central bank warns against illegal forex trading in Bangladesh

Dhaka, Bangladesh (BBN)- The central bank of Bangladesh advised people to be cautious about illegal online trading of foreign exchange (forex).

The Bangladesh Bank (BB), the country’s central bank, on Monday issued the warning after observing some advisements in social media including facebook and different websites and online edition of daily newspapers that offered people lucrative exchange rate for online forex trading.

The central bank said such trading is illegal under the Foreign Exchange Regulation Act, 1947 that allows only authorized dealers and money changers to foreign exchange.

The BB also advised people not to be misled with the advertisements and suggested all concerned for not helping circulating such advertisements.

BBN/SSR/AD-04Nov13-9:06 pm (BST)

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