Regulatory Alerts2023-06-26
Added
Extension of usance period against imports of industrial raw materials
The usance period for imports of industrial raw materials, including back to back imports, and imports of agricultural implements and chemical fertilizers under supplier’s or buyer’s credit is extended until December 31, 2023. This extension applies to the policy supports previously established in FE Circular No. 32 dated November 16, 2022, which increased the period from 180 days to 360 days. The extended usance period does not apply to imports under EDF loans, while other relevant instructions remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 11 Date: June 26, 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. 32, dated November 16, 2022 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. 32/2022 till December 31, 2023. As usual, the extended usance period will not be applicable for imports under EDF loans. Other relevant instructions shall remain unchanged. Please bring the contents of this circular to the notice for their customers. Yours faithfully,
(Md. Sarwar Hossain) Director (FEPD) Phone: 9530123