Insurance Information Of Bangladesh Bank 2022
Insurance Information Of Bangladesh Bank 2022
Insurance
The insurance sector in Bangladesh emerged after independence with 2 nationalized insurance companies- 1 Life & 1 General; and 1 foreign insurance company. In the mid-80s, private sector insurance companies started to enter the industry, expanding. Nowadays,
62 organizations are working under Insurance Act 2010. Out of them, 18 Are Life Insurance Companies, Including 1 Foreign Company, And 1 of the State-Owned Company,
44 General Insurance Companies, Including 1 Stated owned Company.
Protection agencies in Bangladesh offer the accompanying types of assistance:
1. Disaster protection,
2. General Insurance,
3. Reinsurance,
4. Miniature protection,
5. Takaful or Islami protection.
The Network Of SAARC Central Bank Governor and Finance Secretaries Brief History, Objectives, And Activities SAARCFINANCE Activities In Bangladesh Summary: The 6th SAARCFINANCE Coordinators Meeting, Dhaka, Bangladesh, July 05, 2006 Detail. Summary: The 14th SAARCFINANCE Group Meeting, Singapore, September 20, 2006 Detail. Summary:
The 7th SAARCFINANCE Coordinators Meeting, Dhaka, Bangladesh, March 15, 2007 Detail. Summary: The 15th SAARCFINANCE Group Meeting, Dhaka, Bangladesh, May 15, 2007 Detail... Summary: The 25th SAARCFINANCE Coordinators Meeting, Dhaka, Bangladesh, April 09, 2017, Detail. Summary: The 34th SAARCFINANCE Group Meeting, Colombo,
Sri Lanka, July 12, 2017 Detail. Summary: The 26th SAARCFINANCE Coordinators Meeting, Cox's Bazar, Bangladesh, August 26, 2017 Detail. Summary: The 35th SAARC FINANCE Group Meeting, Washington D.C. USA, October 12, 2017 Details. Name And Contact Details Of Governor And Finance Secretary And SAACFINANCE Coordinator Of Bangladesh
SAARCFINANCE Seminar Papers/ Publications/ Presentations in Bangladesh
The Papers Of SAARCFINANCE Database Webinar And Working Group Meeting-2021, Bangladesh Detail.. Paper And Proceedings Of SAARCFINANCE Seminar On Impact Of Mobile Financial Services In The SAARC Region December 19, 2016 Details...
Papers And Proceedings Of SAARCFINANCE Governors Symposium On Financial Inclusion June 12, 2015, Dhaka, Bangladesh Detail. Papers And Proceedings Of SAARCFINANCE Seminar On Management Of External Sector Openness-South Asian Country Experiences 29-30 April 2014, Dhaka, Bangladesh Detail...
Papers And Proceedings Of SAARCFINANCE Meeting On The Improvement Of SAARCFINANCE E-Newsletter And Development Of SAARCFINANCE Scholarship Scheme Detail.
Papers And Proceedings Of SAARCFINANCE Seminar On Financial Inclusion: The Role Of Central Banks In SAARC Region, 20-21 December 2011 Detail.
Papers And Proceedings Of SAARCFINANCE Seminar On Impact Of Global Financial Crises And Recessionary Conditions In The Region, 17-19 November 1999
Papers And Proceedings Of SAARCFINANCE Seminar On Microcredit Operations, 21-23 December 2002 Detail.
Papers And Proceedings Of SAARCFINANCE Seminar On Corporate Governance In Banks And Financial Institutions, 27-28 August 2008
Papers And Proceedings Of SAARCFINANCE Governors' Symposium On Microcredit, 15-16 February 2006 Detail.
Training Institutes
Web Links
SAARC Central Banks
Regulations And Guidelines
Bangladesh Bank Regulations
Bangladesh Bank Expenditure Regulations, 1977
Bangladesh Bank Leave Rules, 2003
Bangladesh Bank Accommodation Allotment Rules, 2003
The Bangladesh Bank Procurement Regulations, 2004
The Bangladesh Bank Procurement Processing
& Approval Procedures (BBPPAP)
Bangladesh Bank (Note Refund) Regulation-2012
Schedule Bank
Prudential Guideline For Agents Banking Operations In Bangladesh
Guideline To Establish A Banking Company In Bangladesh
Guidelines For Islamic Banking
Prudential Regulations For Banks
Guidelines For Establishment Of NRB Bank
Guidelines On Risk-Based Capital Adequacy Revised Regulatory Capital Framework In Line With Basel
Guideline For Bank Director Summary Detail.
Policy Guidelines For Green Banking For The New Banks Bangla
Policy Guidelines For Green Banking For Banks English Bangla
Guidelines On Commercial Paper For Banks
Code Of Conduct For Banks And Non-Banks Financial Institutions
Financial Institution
Integrity Award Guidelines For Financial Institutions
Guidelines To Fill In The NBFI Return-1, 2 And 3
Guidelines On The Base Rate Systems For Non-Bank Financial Institutions
Financial Institute a Regulation, 1994
Finacial Institute Act, 1993
Prudential Regulations For Financial Institution
Prudential Guideline On Capital Adequacy And Market Disciplines (CAMD) For FIS
Guideline On Products And Services Of Financial Institution In Bangladesh
Policy Guideline For Green Banking English
Integrated Risk Management Guidelines For Financial Institutions
Code Of Conducts For Banks & Non-Bank Financial Institutions
Banks And Financial Institutions
Indicative Guidelines For The CSR Expenditure Allocation And End Use Oversight
Mainstreaming Corporate Social Responsibility (CSR) In Banks And Financial Institutions In Bangladesh
Merger/Amalgamation Of Banks/FIs
Managing Core Risk In Banks
Guidelines On The Interest Rate Risk In The Banking Book
Guidelines Of Country Risk Management
Guidelines on Internal Credit Risk Rating System For Banks
Risk Management Guidelines For Banks, 2018
Credit Risks
Asset & Liability/Balance Sheet
Foreign Exchange Risks
Internal Control & Compliance
Money Laundering Risks
Guidelines On The Core Banking Solution (CBS) Features And Controls In Financial Institutions
Credit Risks
Asset & Liability/Balance Sheet
Internal Control & Compliance
Guidance Note On The Prevention Of Money Laundering And Terrorist Financing In Banks And Financial Institutions
Guideline On ICT Security For Banks And Non-Bank Financial Institutions, May 2015
Guidelines On Environmental & Social Risk Management (ESRM) For Banks And Financial Institutions In Bangladesh, February 2017
Foreign Exchange
Guidelines For The Foreign Exchange Transaction (GFET), 2018 Vol 1 [As Of November 30, 2017]
Guidelines For The Foreign Exchange Transactions (GFET), 2018 Vol 2 [January 2018]
Foreign Exchange Guideline Vol 1 [As Of May 31, 2009]
Foreign Exchange Guidelines Vol 2 As Of July 31, 2010
Policy For Drawing Arrangement
FAQ In Foreign Exchange Transactions
Forex Transactions For The Individual Download Poster. Jpg Format It
Forex Transactions For Inbound And Outbound Traveler [Download Poster. Jpg Format]
Guidelines To FX Audit Team
[For Auditing The Daily Basis Reporting Of The Forex Transactions On The Online Forex Monitoring Systems]
Code Lists For Reportings External Sector Transactions By The Authorised Dealers (Edition-2018)
Guidelines On International Factoring
Anti Money Laundering
Guidelines On The Money Laundering & Terrorist Financing Risk Management Guidelines For Banks
Guidance Notes On Prevention Of Money Laundering For Banks
Guidelines On The Implementation Of The UN-Security Council Resolutions Concerning Targeted Financial Sanctions, Traveler Ban, And Arms Embargo
Money Laundering And Terrorist Financing Risk Assessments Guidelines
For Financial Institutions
For Banking Sector
For Designated Non-Financial Businesses And Professions
For Postal Remittance Business
For Capital Market Intermediaries
For NPO/NGO Sector
Guidance Notes On AML&CFT
For Insurance Companies
For Money Changers
Payment & Settlement
Bangladesh Mobile Financial Services (MFS) Regulations, 2022
Bangladesh Automated Cheque Processing Systems (BACPS) V 2.0 - Operating Rules & Procedures
Approval Procedure Of Payment System Operator (PSO)/Payment Service Provider (PSP)
Bangladesh Real Time Gross Settlement(BD-RTGS) System Rules
Regulations On Electronic Fund Transfer 2014
Bangladesh Payment And Settlement Systems Regulations 2014
Payment & Settlement Systems Regulations 2009
Bangladesh Electronic Funds Transfer Network (BEFTN) Operating Rules V 2.0
NPSB Switch Operating Rules & User Manual: Disputes Management Rules
Guidelines On Electronic Dealing System For Interbank Money Market (EDSMoney)
National Financial Inclusion Strategy
English Bangla Gazette
Others
Manual Of Credit Guarantee Scheme
Operating Guidelines For Small And Marginal Sized Farmers Agricultural Productivity Improvement And Diversification Financing Project (SMAP)
Guidelines On Credit Risks Management (CRM) For Banks
Guidelines On Internal Control & Compliance In Banks
Guidelines On Asset-Liability Management (ALM)
Agricultural And Rural Credit Policy & Programmes For 2019-2020
Guidelines For Customer Services And Complaint Management [Bangla] [English]
Guidelines On Agent Banking For The Banks
Guidance Note For Approval And Operation Of Agent Banking Activities Of Banks
Mobile Financial Services For The Banks
School Banking Guideline
Guidelines For Investment In Treasury Bills
Guidelines For Investment In Bangladesh Government Treasury Bonds
Guideline To Fill In The Banking Statistics Returns-SBS-1, SBS-2 & SBS-3
EEF (ICT) Fund Usage Policy -2012
SME Credit Policy & Programs [Bangla] [English]
Spread Calculation Procedure
Guidelines On Stress Testing
Guidelines On Stress Testing For NBFIs, 2012
NRB Database
Foreign remittance is an essential part of Bangladesh's economy. One of the pivotal factors of the successes of Bangladesh is the direct and indirect contribution of NRBS. Because of their relentless complex works, Bangladesh has become one of the significant remittance recipient countries in the world. Bangladesh received its highest-ever annual remittance Of about US$14.5bn in just our fiscal year as expatriate Bangladeshis sent home hard-earned money. The central banks hope that the remittance inflow will continue to go up in the coming days.
BB recently took initiatives to collect information on NRBs and maintain them in the NRB database to acknowledge their contribution. This database will help us communicate with them and make a communication channel for themselves. For Bangladesh Bank, this database helps promote and uphold investment information arranged for NRBs by the government, proper remittance channel, and method, significant financial or economic moves of governments in which NRBS can take part. Again NRBS can be benefited somehow or another. They r can present a grumbling, question, or criticism. And furthermore, utilize this information base to interface among themselves and search other NRBs as per the nation, calling, and so forth.
Payment Systems
Payment and Settlement Systems
Payment and settlement systems are how funds are transferred among financial institutions, businesses, and individuals and are considered critical for the proper functioning of a country's financial system. With the mandate of Bangladesh Bank Order 1972, the Payment Systems Department (PSD) endeavors for promoting new payments, clearing, and settlement systems to ease financial transactions, ensuring the circulation of money in the economy, and also enforces new rules regulation to facilitate payment systems innovation in the country.
Established in 2012, Payment Systems Department's core objective includes establishing modern and efficient interbank payments, clearing, and settlement systems. In parallel, the department looks after the Law, regulation, licensing, and oversight of the payment systems. The Payment System Department's function may be divided into the following three broad categories:
Regulation, Policy, and Licensing
Operation
Bangladesh Automated Clearing House (BACH)
OPERATION
(a) Bangladesh Automated Cheque Processing Systems (BACPS)
Since its inception in October 2010, BACPS has been the leading cutting edge really take a look at clearing office. It utilizes the Check Imaging and Truncation (CIT) innovation for electronic presentment, and installment of paper-based instruments (i.e., check, pay request, profit, and discount warrants, and so on) BACPS works in a bunch handling mode. Exchanges got from the banks are processed and settled at a pre-fixed time. Under the BACPS umbrella, High Value (HV) Cheque Clearing (Cheque amounting to Tk. 5,00,000 or above) and Regular Value (RV) Cheque clearing are operated. At present, HV's presentment cutoff time is at 12:00, and the return cutoff is at 15:00, while for RV clearing, the presentment cutoff time is at 12:30, and the return cutoff is at 17:00.
Bangladesh Automated Check Processing Systems (BACPS) V 2.0
Transaction Trend
(b) Bangladesh Electronic Funds Transfer Network (BEFTN)
Incepted in February 2011, BEFTN was the country's first paperless electronic inter-bank funds transfer system. It facilitates credit and debit transactions as a lead over cheque clearing system. This network can handle credit transfers such as payroll, foreign and domestic remittances, social security payments, company dividends, bill payments, corporate payments, government tax payments, social security payments, and person-to-person payments. In the same way, it accommodates debit transactions like utility bill payments, insurance premium payments, Club/Association payments, EMI payments, etc. Most of Govt. the salary, social benefits, social safety net payments, and other government payments are processed through BEFTN.
Bangladesh Electronic Funds Transfer Network (BEFTN) Operating Rules V 2.0
Transaction Trend
(c) National Payment Switch Bangladesh (NPSB)
Since 2012, NPSB has established interoperability among participating banks for their account and card-based transactions. Currently, it caters to inter-bank Automatic Teller Machines (ATM), Point of Sales (POS), & Web Banking Fund Transfer (IBFT) exchanges while the Mobile Financial Services interoperability is under dynamic thought. 53 Banks are presently interconnected through NPSB for their ATM exchanges. Right now, four sorts of interbank ATM transactions (i.e., cash withdrawal, balance inquiry, store move, and small articulation) should be possible through NPSB. As of October 2021, 53 banks are interoperable for POS exchanges, & 30 banks are interconnected for their IBFT exchanges. There are various cutoff points for individual and institutional IBFT exchanges. For people, the most extraordinary worth of every conversation is 3,00,000 taka, and the frequency is a maximum of 10 times a day and not more than 10,00,000 taka per day. For corporate, the limit has been set on each transaction as 5,00,000 taka and maximum frequency as 20 times a day and 25,00,000 taka per day. The participating banks must ensure two-factor authentication (2FA) for any online/e-commerce/inter-banking/card, not present transactions.
NPSB Dispute Management Procedures
Transaction Trend
Card Market Summary
NPSB Certified Banks For ATM Transactions
NPSB Certified Banks For POS Transactions
NPSB Certified Banks For IBFT Transactions
(d) Real Time Gross Settlement System (RTGS)
To facilitate actual-time settlement of high-value time-critical payments, BB introduced Bangladesh Real Time Gross Settlement (BD-RTGS) system in October 2015. It opened another aspect for the banks and corporations to settle their charges instantly; simultaneously, individual customers are also availing this service to determine their enormous worth exchanges. As of October 2021, more than 10810 internet-based parts of the scheduled banks are connected with the BD-RTGS system, and the number is increasing gradually.
RTGS Operating Rule
Transaction Trend
REGULATION, POLICY, AND LICENSING
a) Legal and Regulatory Function
A proper legal and regulatory framework is essential to ensure the smooth working of the installment and settlement framework. The legitimate reason for Bangladesh bank to advance a protected, secure installment framework lies in the Bangladesh Bank Order 1972. The side-by-side Payment Systems Department issues regulation and publishes systems rules, which define the roles and responsibilities of the participants of specific payment systems. A draft regarding the Payment and Settlement Systems Act made by Bangladesh Bank is currently under process at the service of Finance.
Bangladesh Payment And Settlements Systems Regulations (BPSSR), 2014
Guidelines On Electronic Fund Transfer, 2014
b) Mobile Financial Services (MFS)
Bangladesh Bank has presented productive off-branch Mobile Financial Services (MFS) in 2011 in Bangladesh as the country acquired an omnipresent mobile phone network experience, a considerable number of cell phone clients, and further developed an IT framework. In no less than a decade, this dramatically expanding Bank-Led model of MFS has turned into the biggest MFS market on the planet.
Bangladesh Bank grants Cash in, Cash out, Person to Person (P2P), Person to Business (P2B), Business to Person (B2P), Person to Government (P2G), and Government to Person (G2P) installment administrations through MFS locally. No cross-line cash move is permitted under this help. Be that as it may, nearby dispensing of unfamiliar internal settlement through the banking channel is allowed. Any adult can open an MFS account with any supplier at a specialist point or bank office with a photograph and lawful ID. For this situation, having more than one MFS account by one individual with a similar supplier isn't allowed.
Bangladesh Mobile Financial Services (MFS) Regulations, 2022
Exchange Trend
Rundown Of MFS Providers
Admittance To MFS For Women In Bangladesh
Far-reaching Study On The Female MFS Market In Bangladesh
Ladies Agent Acquisition Toolkit
Ladies Agent Recruitment Manual
Ladies Agent Selection Tool
Ladies Agent Training Deck
Ladies Agent Training Manual
c) Payment Service Provider (PSP) and Payment System Operator (PSO)
As indicated by "Bangladesh Payment and Settlement Systems Regulation-2014 (BPSSR-2014)," Payment Systems Department (PSD) issues permit in two general rules Payment Service Provider (PSP) and Payment System Operator (PSO).
It gives PSP license to the company that works with payment(s) or installment processes straightforwardly to the clients and settling their exchanges through a planned bank or monetary organization; for instance, E-wallet, Mobile Wallet, and so on Additionally, PSD gives PSO permit to the organization that works a settlement framework for installment exercises between/among members of which the chief member should be a booked bank or monetary establishment, like installment passage, installment aggregator, and so on PSD surveys the market interest, business reasoning, administrative prerequisites, risk the executive's frameworks, settlement frameworks, qualification rules, and others as per BPSSR-2014 for thinking about the utilization of permit of PSP or PSO.
List of Authorized PSO and PSP:
IT Consultants Ltd (PSO)
SSL Commerz Ltd (PSO)
ShurjoMukhi Ltd (PSO)
Photonics Limited (PSO)
Walletmix Limited (PSO)
Soft-Tech Innovation Limited(PSO)
iPay Systems Ltd (PSP)
D Money Bangladesh Ltd (PSP)
Recursion FinTech Ltd (PSP)
Green & Red Technologies Ltd (PSP)
Progoti Systems Ltd. (PSP)
d) Regulatory FinTech Facilitation Office (RFFO)
With technological advancements affecting every sphere of life, technical and digital innovations have also changed financial services. The troublesome creative innovation is having uncommon effects on Finance in doing business. Economic sectors are getting a new dimension by introducing technical and financial solutions designed/offered by monetary elements and innovation firms. It has been demonstrated that FinTech or advanced developments have turned into an extraordinary power in the economic business sectors. FinTech brings productivity enhancements, risk decreases, and more critical monetary incorporation. It becomes basic to comprehend the granular parts of FinTech and its suggestions to audit and reorient the administrative structure fittingly and answer the elements of the quickly advancing FinTech situation.
Realizing these factors, a Regulatory FinTech Facilitation Office (RFFO) was established in October 2019. This may be considered a significant primary step towards enabling more financial sector innovators to enter the market to promote financial services to mass people within an affordable price range. RFFO facilitates interested innovative FinTech ideas to apply for the Pilot project and provides related regulatory assistance to the participants. Interested FinTech participants may contact RFFO for any kind of query or support through the following email address:
rffo.psd@bb.org.bd
Documents Required To Provide For PILOT Under Regulatory FinTech Facilitation Office (RFFO)
PAYMENT SYSTEMS OVERSIGHT
Payment Systems Oversight is a specialized form of supervision of existing and planned payment systems, one of the critical functions of all the central banks around the globe. It promotes the safety, efficiency, and soundness of payment systems by effective monitoring and assessment and, after that, suggesting policy changes.
With the mandate of Bangladesh Bank Order 1972, Bangladesh Bank has introduced several new and digitalized payment platforms and services that became a vital part of the country's financial infrastructure. Effective oversight is the means for stabilizing economic infrastructure by identifying and managing payment systems' associated risks. Therefore, Payment Systems Oversight focuses on the following activities:
Collects onsite and off-site data from systems and participants regarding the day-to-day operation, financial flow and transaction pattern, risk exposures, risk management procedures and practices, back-up, business continuity plan, disruptions, disputes, etc., for monitoring.
Checks compliance of systems and participants with applicable rules and regulations identifies the gap, and comes up with recommendations with follow-up time.
Analyzes the weaknesses of systems, participants, or schemes and identify the areas that need improvements or intervention of BB.
Does trend analysis of systems and participants data and calculates the market share to prioritize the segment for monitoring.
Does and facilitates 'Self-Assessment' of systems and participants based on regulatory requirements and International Standard.
Payment Systems Quarterly Trend
Payment Platform Quarterly Data
Trend Analysis Of Each Payment Platforms
CONTACT
Bangladesh Bank, Motijheel, Dhaka
Phone: +880-255665001-6
E-mail: webmaster@bb.org.bd
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