Regulatory Alerts2016-01-07
Added · Updated
Amendment to Foreign Currency Account Rules for Shipping Lines and Freight Forwarders
The Foreign Exchange Policy Department amends paragraph 03 of F.E. Circular Letter No. 03 dated January 19, 2015, to prohibit outward remittances supported by encashment certificates against FOB exports effective from April 2016. This directive applies to all Authorized Dealers of Foreign Exchange in Bangladesh and requires them to notify their concerned constituents of the new restriction.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd F.E. Circular Letter No.01 Date: January 07 , 2016 Head offices/principal offices of all Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Foreign currency accounts for shipping lines/airlines/ freight forwarders handling FOB export and import cargo Please refer to F.E. Circular Letter No.03, dated January 19, 2015. 02. In order to facilitate proper implementation of the FE Circular Letter under reference, it has been decided to amend paragraph 03 as under: “Outward remittance supported by encashment certificates against FOB exports shall not be allowed with effect from April, 2016.” Please bring the above instructions to the notice of all your concerned constituents. Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319
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