Regulatory Alerts2023-12-14
Added
Extension of Usance Period Against Imports of Industrial Raw Materials
The policy supports extending the usance period from 180 days to 360 days for imports of industrial raw materials, agricultural implements, and chemical fertilizers under supplier's/buyer's credit, as previously outlined in FE Circular No. 11/2023, have been extended until June 30, 2024. This extension, decided by Bangladesh Bank, does not apply to imports under EDF loans. All Authorized Dealers in Foreign Exchange in Bangladesh and their customers are affected, with other relevant instructions remaining unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 21 Date: December 14, 2023 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. 11, dated June 26, 2023 regarding extension of usance period to 360 days from 180 days for imports of industrial raw materials including back to back imports and imports of agricultural implements and chemical fertilizers under supplier’s/buyer’s credit as per paragraph 33(a)(ii) and 33(a)(iv), chapter 7 of the Guidelines for Foreign Exchange Transactions-2018, Vol.-1. 02. To facilitate trade transactions, it has been decided to extend the policy supports contained in FE Circular No. 11/2023 till June 30, 2024. The extended usance period will not be applicable for imports under EDF loans as earlier. Other relevant instructions shall remain unchanged. Please bring the contents of this circular to the notice of the customers. Yours faithfully,
(Md. Sarwar Hossain) Director (FEPD) Phone: 9530123