Business Desk :
Bangladesh Bank is updating the credit card operation guidelines of authorised banks to better manage the risks to their businesses and to protect the interest of customers.
The central bank issued a circular on Thursday directing the CEOs of all commercial banks across the country to implement the new measures with effect from January 1, 2018.
The new guidelines concern the issuance of supplementary credit cards, the terms of contracts, interest or profit rates, various charges, and the billing process.
According to the central bank’s circular, the card issuers will be allowed to issue foreign currency or dual currency supplementary credit cards.
Also affected by the changes are the collection or recovery mechanisms, fraud control, and security of the cards.
Bangladesh Bank is updating the credit card operation guidelines of authorised banks to better manage the risks to their businesses and to protect the interest of customers.
The central bank issued a circular on Thursday directing the CEOs of all commercial banks across the country to implement the new measures with effect from January 1, 2018.
The new guidelines concern the issuance of supplementary credit cards, the terms of contracts, interest or profit rates, various charges, and the billing process.
According to the central bank’s circular, the card issuers will be allowed to issue foreign currency or dual currency supplementary credit cards.
Also affected by the changes are the collection or recovery mechanisms, fraud control, and security of the cards.
