Since we published this Post, UKBA has introduced a new list of financial institutions from which it will not (not) accept statements for Points Based System (PBS) visa applications in Bangladesh from 13 December 2012.
To read UKBA’s announcement, which has also been copied/pasted below for your convenience, please click here.
UKBA announcement of 19 November 2012
19 November 2012
The UK Border Agency in Bangladesh has published a list of financial institutions from which it will no longer accept documentation in support of visa applications made under the points-based system (PBS). The UK Border Agency intends to lay changes to the Immigration Rules that will bring the lists into effect for all PBS visa applications submitted from 13 December 2012.
Visa applicants will need to submit evidence from a financial institution that is not listed as being 1 from which the UK Border Agency will not accept documents. Visa applications will be refused if they rely on information from an institution which is listed as 1 from which evidence will not be accepted.
To find out which financial institutions are on this list, see the List of financial institutions that do not satisfactorily verify financial statements page.
Only as recently as 2 October 2012, the UK Border Agency issued a list of financial institutions from which they would only accept financial statements from Bangladesh to support visa applications made under the points-based system (PBS). Today, 16 October 2012, UKBA has withdrawn this list and has announced that it will be replaced by 2 lists; one of financial institutions from which UKBA will accept financial statements, and one from which they will not. UKBA will announce these (new) lists and the start date for implementation in due course. For now, the list published on 2 October has been cancelled and existing arrangements will therefore contintue until the new lists have been published (i.e. currently there is no such list of financial institutions in force for Bangladesh).
For UKBA’s official statement withdrawing the list announced on 2 October 2012, please click here.
In June 2011, the UK Border Agency announced that it would publish lists of financial institutions which it considers, on the basis of experience, do, or do not, verify financial statements to its satisfaction. These lists are gradually being introduced for different countries. There are currently lists in place for Cameroon, Ghana, India, Iran, Pakistan, and the Philippines.
On 2 October 2012, UKBA announced a list of financial institutions from which it would only accept financial statements for Bangladesh. The list was to become effective from 1 November 2012. On 16 October 2012, UKBA issued a statement confirming that the list from Bangladesh had been cancelled. As a result, there is currently no such list in force for Bangladesh.
Which financial institutions were on the UKBA list of 2 October 2012?
The list of financial institutions of 2 October 2012 from which the UK Border Agency said it would accept documentation was:
• AB Bank Ltd
• Eastern Bank Ltd
• National Credit and Commerce Bank Ltd
• Southeast Bank Ltd
• One Bank Ltd
• Mutual Trust Bank Ltd
• BRAC Bank Ltd
• First Security Islami Bank Ltd
• Standard Chartered Bank
• State Bank of India
• Commercial Bank of Ceylon Ltd
• Citi Bank
• The Hong Kong and Shanghai Banking Corporation Ltd.
For which purposes does UKBA use these lists?
The lists of financial institutions are used when verifying maintenance funds for applications made under Tiers 1, 2, 4 and 5 of the points based system. Tier 1 visa applications are for highly skilled migrants, entrepreneurs, investors and people of exceptional talent; Tier 2 is for skilled migrants; Tier 4 is for students and Tier 5 is for temporary workers. An applicant will receive no points for maintenance if they submit documents showing that the funds are held in a financial institution which is not on the list. UKBA states that the lists will be kept under review, and amended as necessary. The lists for Bangladesh will be announced in due course so please monitor the UKBA website for updates.