Regulatory Alerts2016-03-23
Added · Updated
Enhancement of Umrah Hajj Guarantee Limit to Saudi Riyal 200,000
The limit for bank guarantees or performance bonds furnished by Authorized Dealers on behalf of approved Umrah agents is increased from Saudi Riyal 100,000 to Saudi Riyal 200,000. This change applies to guarantees issued in favor of official Umrah service agents or providers in the Kingdom of Saudi Arabia. All other instructions contained in FE Circular No. 02 dated January 13, 2014 remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. : FEPD(A&NFBP)/103(Umrah)/2016-09 Date : 23 March 2016 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Issuance of Umrah Hajj Guarantees in foreign currency. Attention of the Authorized Dealers (ADs) is invited to paragraph 02 of FE Circular No. 02, dated January 13, 2014 in terms of which ADs are allowed to furnish bank guarantees/performance bonds not exceeding Saudi Riyal 1,00,000 on behalf of approved Umrah agents in favor of official umrah service agents/providers of Kingdom of Saudi Arabia (KSA). 02. It has now been decided that limit of the aforementioned guarantees/performance bonds has been enhanced to Saudi Riyal 2,00,000.
- Other instructions contained in the FE Circular No. 02, dated January 13, 2014 shall remain unchanged. Please bring the content of this circular letter to the notice of all concerned. Yours faithfully, (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone:9530250
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