BRPD Circular Letter No. 41: Policy for Post Import Financing-PIF

Bangladesh Bank Chief Executive Office Motijheel, Dhaka-1000 Bangladesh. Ref No.: BRPD Banking Regulation and Policy Department 26 October 2022

BRPD Circular Letter No. 41 Date: ----------------- 10 Kartik 1429

Managing Director / Chief Executive Officer All Scheduled Banks Operating in Bangladesh

Dear Sir,

Regarding the Policy for Post Import Financing (PIF).

Reference is drawn to your attention to BRPD Circular Letter No. 12 issued on 26 April 2022 on the subject matter above.

2. Through sub-paragraph 2.3 (c) of the aforementioned circular, instructions were given that PIF facilities shall not be provided in the case of purchase and sale between institutions belonging to the same group or with common interests through banking channels.

3. Now, in order to facilitate international trade/business and increase domestic investment, instructions are hereby given that PIF facilities may be provided for the import of finished goods between institutions belonging to the same group or with common interests through cross-border transactions, provided that the import is not against local letters of credit.

4. In addition, other instructions contained in BRPD Circular Letter No. 12/2022 shall remain unchanged.

5. These instructions are issued under the powers conferred by Section 45 of the Bank Company Act, 1991.

These instructions shall take effect immediately.

Yours faithfully,

(Maksuda Begum) Director (BRPD) Phone: 9530252