Regulatory Alerts2012-10-15
Added · Updated
Enhancement of Upper Limit for LC Value Without SWIFT to USD 7,500 for Coal Imports via Land Port
The upper limit for the value of a Letter of Credit (LC) issued without a SWIFT message for the import of coal through a land port is enhanced from USD 6,000 to USD 7,500. This change relaxes previous instructions contained in FE Circular No. 01/2010 and paragraph 21(i)(f), chapter 7 of the Guidelines for Foreign Exchange Transactions-2009, Vol. 1. The revised instruction applies to Authorized Dealers of Foreign Exchange in Bangladesh and comes into immediate effect.
“Translated into English” Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Web site: www.bb.org.bd FE Circular No. 11 Date: October 15, 2012 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Enhancement of upper limit of LC value without SWIFT to USD 7,500 from USD 6,000 for import of coal through land port Attention of the Authorized Dealers (ADs) to paragraph 21(i)(f), chapter 7 of the Guidelines for Foreign Exchange Transactions-2009, Vol. 1 and FE Circular No. 01/2010. 02. The instruction issued vide FE Circular No. 01/2010 regarding import of coal through land port has been relaxed and upper limit of LC value for such import LC without SWIFT has been enhanced to USD 7,500 from USD 6,000. 03. The above instruction will come into immediate effect. Please confirm receipt and bring the matter to the notice of all concerned. Yours faithfully, Sd/- (Md. Golam Haider) Deputy General Manager Phone: 9530092
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