The Bangladesh Bank has issued a warning to all banks, urging heightened vigilance regarding the import of products from supplier nations that are under global sanctions.
Authorised dealer branches of the banks, along with their central trade processing units, have been advised to exercise caution when importing products from these sanctioned countries, according to sources citing an internal document released by the central bank.
The central bank has further requested banks to verify whether the supplier nation is under international restrictions, as transactions involving such countries pose heightened risks for global banks.
These directives have also been incorporated into the Bangladesh Bank's anti-money laundering and terrorist financing policy framework.
