RegAlert

Rule · BB · 5 Feb 2017

FE Circular No. 05: Advance payment against import from Exporter's Retention Quota (ERQ) Accounts

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The limit for advance payments against imports from Exporter's Retention Quota (ERQ) accounts is increased from USD 10,000.00 to USD 25,000.00 or its equivalent. This change applies to Authorized Dealers of Foreign Exchange in Bangladesh acting on behalf of exporters for bonafide business purposes. All other terms and conditions stipulated in Paragraph 29(iii), Chapter 13 of the Guidelines for Foreign Exchange Transactions (GFET) Vol.-1(2009) remain unchanged.

BangladeshBangladesh Bank

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular No. 05 Date : 05 February 2017
All Authorized Dealers of
Foreign Exchange in Bangladesh
Dear Sirs,
Advance payment against import from Exporter’s Retention Quota (ERQ) Accounts. Please refer to FE Circular no. 13 of 27 August 2009 wherein Authorized Dealers have been allowed to effect advance payment on behalf of exporters not exceeding USD 10,000.00 or its equivalent from the Exporter's Retention Quota (ERQ) for bonafide business purposes subject to observance of specific terms and conditions. It has now been decided to enhance this limit of advance payment from ERQ up to USD 25,000.00 or its equivalent.
02. Other terms and conditions stipulated in Paragraph 29(iii), Chapter 13 of the
Guidelines for Foreign Exchange Transactions (GFET) Vol.-1(2009) will remain unchanged.
03. Please bring these instructions to the notice of all concerned.
Yours faithfully,
(Md. Zakir Hossain Chowdhury)
Deputy General Manager
Phone:9530250

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FE Circular No. 13: Advancepayment against imports2009 · BBFE Circular No. 13: Advance payment against imports (2009-08-27)FE Circular No. 05: Advancepayment against import from E…2017-02-05 · this documentFE Circular No. 05: Advance payment against import from Exporter's Retention Quota (ERQ) Accounts (2017-02-05)Mentions (1)a document that mentions itopen the list below the graph ▾Mentions (1): a document that mentions it without changing it — open the list below the graph
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
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Amends
  • FE Circular No. 13: Advance payment against imports2009 · BB

    “Please refer to FE Circular no. 13 of 27 August 2009 wherein Authorized Dealers have been allowed to effect advance payment on behalf of exporters not exceeding USD 10,000.00 or its equivalent from the Exporter's Retention Quota (ERQ) for …”

Mentions (1): 1 document mentions this one without changing it
Referred to by
  • Outward remittance facilities for exporters2018 · BB

    “Paragraph 29(i), chapter 13 of the Guidelines for Foreign Exchange Transactions-2009 (GFET), Vol-1 accords general authorization to exporters for payment abroad out of balance held in Exporter’s Retention Quota (ERQ) accounts of bonafide c…”

Timeline

This document amends: FE Circular No. 13: Advance payment against imports

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