Regulatory Alerts2010-09-05
Added · Updated
BRPD Circular No. 28: Discounting/purchasing of accepted bills at Offshore Banking Units
Offshore Banking Units (OBUs) are authorized to discount bills accepted by Authorized Dealers (ADs) in Bangladesh against import Letters of Credit opened on a deferred or usance basis, provided due diligence is applied. This clarification treats OBUs as non-resident entities for exchange control purposes and updates guidelines previously issued by the Banking Control Department in 1985.
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