Regulatory Alerts2012-09-09
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BRPD Circular No. 13: Acceptance and Purchase of Inland Bill
The document amends BRPD Circular No. 10 dated July 11, 2012, by replacing the final sentence of its second paragraph. The revised rule prohibits the acceptance or payment of value for inland bills of exchange in local or foreign currency unless the bank has verified the actual delivery of the goods against which the bill was drawn. This amendment takes effect immediately and applies to all scheduled banks operating in Bangladesh.
BRPD Circular No. 13 Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. September 09, 2012 BRPD Circular No. 13 Date: ----------------------- Bhadra 25, 1419 Managing Director / Chief Executive All Scheduled Banks Operating in Bangladesh Dear Sir, Regarding Acceptance and Purchase of Inland Bills. Reference is invited to BRPD Circular No. 10 dated July 11, 2012, on the subject above. The last sentence of the second paragraph of the said Circular shall be replaced as follows: 'In addition, no acceptance or payment of value shall be made for inland bills of exchange in local or foreign currency unless the authenticity of the actual delivery of goods against which the acceptance was made is ensured.' This amendment shall come into effect immediately. Your kind acknowledgment of receipt is requested. Yours faithfully, (Md. Anowarul Islam) Deputy General Manager Phone: 9530094
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