An Authorized Dealer (AD) is a financial institution that has been authorized by the Bangladesh Bank to deal in foreign exchange. The ADs are responsible for executing foreign exchange transactions on behalf of their clients and are required to comply with the foreign exchange regulations of Bangladesh.
- The objective of issuing AD licenses is to facilitate foreign exchange transactions and to ensure that transactions are conducted in accordance with the foreign exchange regulations of Bangladesh.
- The ADs are required to maintain records of all foreign exchange transactions and submit periodic returns to the Bangladesh Bank.
The importance of ADs lies in their role in facilitating foreign exchange transactions and ensuring compliance with foreign exchange regulations. ADs help to promote international trade and investment by providing a reliable and efficient mechanism for foreign exchange transactions. They also help to maintain the stability of the foreign exchange market by ensuring that foreign exchange transactions are conducted in accordance with regulations of Bangladesh Bank. By maintaining records of all foreign exchange transactions. ADs help to prevent money laundering and other illegal activities.