General Guidelines for Opening Deposit

accounts

• “Know Your Customer” guidelines issued by BB to

be followed.

• The objective is prevent financial fraud, identify

money laundering and criminal activities and
monitoring large value cash transactions
 Salient features of KYC norms

• Proper introduction while opening account is

necessary
• Identity of the account holder is to be established
• Photograph of the account holder
• Proof of address is necessary
• Specimen signature of the account holder is to be
obtained
• Monitoring and reporting suspicious transaction
 Deposit Insurance

• In case of bank failure, the inception of Deposit

Insurance will protect the saving of small depositors
either fully or in part.

• Deposit insurance coverage is applicable for

Scheduled Bank/FIs only.

• Deposit Insurance Scheme (Up to Tk.100,000)

 When insured bank fails?
• Insuring agency may ask some healthy bank to
take over failed bank.

• It can take charge and manage operation of

failed bank till suitable buyer is found.

• It can pay off the deposit up to the maximum

amount insured