The central bank on Thursday issued warning of taking legal actions against persons or agencies involved in illegal trading of foreign currency by alluring clients of giving high profit through floating advertisement in different media including newspapers and magazines.

A Bangladesh Bank (BB) statement issued on Thursday also asked all to abstain from trading foreign currency through such illegal agencies or persons.Under the Foreign Currency Regulation Act 1947, only dealer and moneychanger who obtained approval from the central bank are allowed to trade foreign currency.

Others --a person, dealer or agency -- found doing forex trade without the approval of BB is punishable offence under the 1947 act, according to the statement.The statement also noted that advertisements floated in various dailies and magazines with lucrative messages of hefty gains through online forex trading and dealing have been brought under notice of the central bank.

 It was also watched that the advertisers have offered debit card loaded with foreign currency, which is a punishable offence. Steps were taken by the BB uthority to find out individuals involved in such illegal practices, reads the statement.

The Daily Independent/Bangladesh/ 13th Jan 2012