Regulatory Alerts2019-07-17
Added · Updated
Clarification on Use of Private Foreign Currency Accounts for Trade Settlement
Authorized Dealers in Bangladesh are clarified that funds from Private Foreign Currency Accounts may be used for payments of admissible imports, legitimate services, and advance payments against imports of legitimate goods and services. This permission is subject to compliance with the Import Policy Order in force, adherence to tax deduction regulations for services, and the absence of restrictions imposed by other authorities. Authorized Dealers must ensure due diligence and compliance with KYC/AML/CFT standards when processing these transactions.
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