B Mirror Report: The Bangladesh Financial Intelligence Unit (BFIU), the financial intelligence wing of Bangladesh Bank, has issued comprehensive new guidelines on Electronic Know Your Customer (e-KYC) to streamline customer onboarding and enhance regulatory compliance.

According to a circular issued by Bangladesh Bank, the directive aims to simplify the process of establishing customer relationships while strengthening measures to prevent money laundering and terrorism financing.

The new framework seeks to balance financial inclusion with Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) compliance, setting a deadline of December 31, 2026, for full implementation.

Under the guidelines, tiered thresholds have been introduced, including life insurance coverage up to Tk 2,000,000 and securities deposits up to Tk 1,500,000.

Officials said the initiative represents a significant shift in Bangladesh’s digital financial architecture, aligning with the country’s long-term economic ambitions. By digitising onboarding processes, the regulator aims to enhance access to financial services, mobilise idle funds and accelerate the flow of money in the economy.

The move is also expected to ensure compliance with international standards set by the Financial Action Task Force (FATF), reinforcing Bangladesh’s position in the global financial system.