Regulatory Alerts2019-02-05
Added · Updated
FE Circular No. 10: Issuance of Letter of Credit Authorization Form (LCAF)
Authorized Dealers of Foreign Exchange in Bangladesh are permitted to accept Letter of Credit Authorization Forms signed by the lawful representatives of importers, rather than requiring the importer's personal signature. Authorized Dealers must verify the signatures of these representatives using available records, such as board resolutions or authorizations from the respective importer. This amendment simplifies trade transactions while other existing instructions regarding the issuance of LCAF remain unchanged.
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