Regulatory Alerts2025-01-20
Added
Extension of usance period against imports of industrial raw materials
The usance tenure for imports of industrial raw materials, including back-to-back imports and imports of agricultural implements and chemical fertilizers, is extended to 360 days until December 31, 2025. This extended period applies to suppliers’ and buyers’ credit under the Guidelines for Foreign Exchange Transactions-2018 but is explicitly excluded for imports under EDF loans. Authorized Dealers must observe the payment behavior framework outlined in FE Circular No. 30 and are prohibited from extending foreign currency exposure for relevant usance imports beyond the prescribed period.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 8 Date: January 20, 2025 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Extension of usance period against imports of industrial raw materials Please refer to FE Circular No. 13, dated June 30, 2024 regarding extension of usance period to 360 days from 180 days for import of industrial raw materials including back to back imports and imports of agricultural implements and chemical fertilizers under suppliers’/buyers’ credit as per paragraph 33(a)(ii) and 33(a)(iv), chapter 7 of the Guidelines for Foreign Exchange Transactions2018, Vol.-1. 02. It has been decided to continue the usance tenure of 360 days till December 31, 2025. The extended usance period will not be applicable for imports under EDF loans as earlier. 03. In all cases, ADs shall observe payment behavior framework as outlined at FE Circular No. 30, dated November 12, 2024. Exposure by ADs for relevant usance imports shall not be extendable in foreign currency to importer-borrowers beyond the prescribed period. Other relevant instructions shall remain unchanged. Please bring the contents of this circular to the notice of your relevant customers.
Yours faithfully, (Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123