BFIU didn’t block company accounts: BB

Bangladesh Bank (BB) on Monday clarified that the Bangladesh Financial Intelligence Unit (BFIU) only froze the accounts of individuals and sole proprietorships, but the agency did not block any company account.

"It is observed that banks and financial institutions outside the BB guidelines of the company accounts related to individuals suspended the transactions on some accounts; As a result, the day-to-day activities of the institutions are being disrupted, the salaries of employees of the institutions' payment and import-export related transactions are being hampered," BSS reports on Monday quoting a BB press release.

According to the BB instruction, banks cannot block any company accounts despite seizing the accounts maintained in the name of individuals and sole proprietorships.