Regulatory Alerts2009-05-19
Added · Updated
FE Circular No. 04: Issuance of Proceed Realisation Certificate (PRC)
Authentication of Export Proceed Realisation Certificates (PRCs) by Bangladesh Bank is no longer required for submission against direct and deemed exports to government agencies, amending Para 22, Chapter 22 of the Guidelines for Foreign Exchange Transactions (GFET). Authorised Dealers must use separate prescribed proformas for direct and deemed exports, with the latter requiring additional beneficiary and transaction details in monthly returns. ADs must submit a monthly statement of PRCs with verification copies to Area Offices by the 15th of the following month and provide updated lists of authorized signatories to relevant government offices. These new arrangements apply to proceeds realized on or after 01 July, 2009.
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