Published: 10:42 AM, 23 September 2026
Banks, FIs, MFS providers asked to ensure MD/CEO, CAMLCO joint signatures
Bangladesh Bank (BB) has instructed all scheduled banks, financial institutions and mobile financial service (MFS) providers to ensure the joint signatures of the Managing Director/Chief Executive Officer (MD/CEO) and the Chief Anti-Money Laundering Compliance Officer (CAMLCO) on specific correspondences.
The specific correspondences are inspection reports, show-cause notices and other queries of the central bank’s Money Laundering and Terrorist Financing Prevention Department.
The instruction was issued in a letter signed by Bangladesh Bank’s Director of the Money Laundering and Terrorist Financing Prevention Department.
The central bank said its Money Laundering and Terrorist Financing Prevention Department conducts regular and special inspections of banks, financial companies and MFS providers to monitor and supervise their activities relating to anti-money laundering and combating terrorist financing (AML & CFT), and issues show-cause notices and seeks explanations or information on various issues.
According to the letter, the Bank Regulation and Policy Department (BRPD) and Financial Companies Regulation and Policy Department (FCRPD) have relevant instructions requiring the signatures of the principal executives of banks and financial institutions on replies to inspection-related matters.
However, Bangladesh Bank observed that in recent times, replies or management reports submitted against sensitive inspection reports, as well as explanations to show-cause notices, have in many cases been signed only by the principal executive of the concerned institution.
It said such a practice is not consistent with institutional management and governance procedures.
The central bank therefore instructed that, from now on, management reports, special financial statements, explanations to show-cause notices and all letters submitted by banks, financial companies and MFS providers in response to regular or special inspection reports of the department must be signed by the MD/CEO or the appropriate authorized official, where applicable, along with the joint signature of the CAMLCO.
The instruction was issued under the relevant provisions of the Bank Company Act, 1991 (amended in 2023), the Finance Company Act, 2023, and the Money Laundering Prevention Act, 2012. The directive will come into effect immediately.
