No deposit, lending in business development center: BB

Sun Online Desk

24th March, 2019 06:46:39 printer

No deposit, lending in business development center: BB

Bangladesh Bank (BB) on Sunday asked financial institutions (FIs) to avoid all financial transactions involving taking deposit and giving loan or lease in the business development centers, according to a central bank circular issued here today.

“Business development centers of FIs cannot perform any financial transactions regarding deposit or credit or lease. But, the center can conduct many activities, including customer services, consultation, complain receiving and settlement and human resources development, which are not directly related to financing business,” the circular said.

FIs will have to take approval from Bangladesh Bank before establishing any kind of business center, including customer service center, call center, unit office and sales office, the circular added.