Encashment of balances held in ERQ accounts and revision of its limit

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 28 Date: July 26, 2022 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Encashment of balances held in ERQ accounts and revision of its limit Please refer to paragraph 2 of FE Circular No. 14, dated July 14, 2022 regarding encashment of balances held in ERQ accounts. This is to clarify that this instruction is equally applicable for ERQ balances held in the form of term deposits as per paragraph 28(B), chapter 13 of the Guidelines for Foreign Exchange Transactions-2018, Vol-1. Accordingly, ADs are advised to encash the balances held in such term deposit accounts. While on encashment, ADs shall apply interest payable to the accounts (up to the date of encashment) without adherence to premature encashment procedure. Please bring the above instructions, effective immediately, to all your AD branches. Yours faithfully, (Md. Sarwar Hossain) Director (FEPD) Phone: 9530123