FE Circular No. 16: New Schedules /Statements for External Sector Reporting

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka website : www.bangladeshbank.org.bd

FE Circular No. 16 Date: 30 September, 2009

All Authorised Dealers in Foreign Exchange in Bangladesh Dear Sirs, NEW SCHEDULES /STATEMENTS FOR EXTERNAL SECTOR REPORTING Reference is drawn to Para No. 5, Chapter 2 of the Guidelines for Foreign Exchange Transactions (GFET) 1996, (Vol-2) and FE Circular No. 13, dated 22/09/2008 regarding instructions for submission of monthly returns to Bangladesh Bank in different Statements and Schedules. 02. To include in the 'Balance of Payment Accounts' the foreign exchange transactions of resident entities undertaken through their foreign currency accounts maintained with ADs, the following summary statements (alongwith schedules) are to be submitted to Bangladesh Bank (Statistics Department and Foreign Exchange Operation Department of Head Office, Foreign Exchange Policy Departments of Bangladesh Bank Area Offices) by ADs with their monthly returns: Name of the Summary Statements Entities of which FC account transactions are to be reported S-9 Foreign currency accounts of resident corporate entities (industrial concerns, gas/oil/other minerals exploration companies, power generation companies, mobile phone operators, non-banking financial institutions, NGOs, micro finance institutions and other organisations) maintaining Foreign currency accounts with permission from Bangladesh Bank. S-13 Foreign currency accounts of residents opened and maintained under general permission as mentioned in Chapter 13 ( Section I & Section III), Guidelines for Foreign Exchange Transactions, 2009 (Vol-1) [Foreign nationals residing in Bangladesh, foreign firms registered abroad and operating in Bangladesh, Bangladesh nationals working with the foreign/international organisations operating in Bangladesh who get their salaries and allowances in foreign currency, local and joint venture contracting firms employed to execute projects by foreign donors/international donor agencies, Diplomatic Bonded Warehouses operating in Bangladesh having limited money changing licence, Resident Foreign Currency Deposit (RFCD) Accounts of Bangladesh nationals etc). Contd..../2

-02- However, transactions in the Non-resident foreign currency deposit (NFCD) accounts [Chapter 13, Section-II, GFET 2009, (Vol-1)] and foreign currency accounts of the following entities will be excluded for reporting under S-9 or S-13:

1. Foreign national residing abroad;
2. Foreign firms registered abroad and operating abroad;
3. Foreign missions and their expatriate employees;
4. International bodies/organisations as stated in the 'Code Lists for Reporting of External Sector Transactions by the Authorised Dealers' published by Bangladesh Bank (Code-3, No. 2701- 2799). Transactions in the 'foreign currency accounts of Bangladesh nationals working abroad' are to be reported in Summary Statement FCS-7 as usual. Authorised dealer shall start reporting through above statements/schedules from November, 2009 (for transactions in October, 2009) onwards. Please, bring the contents of the circulars to the notice of all concerns. Meanwhile, please acknowledge receipt. Thanking you, Yours faithfully, (Khandaker Abdus Salim) Deputy General Manager Phone: 7120375

STATEMENT S-9 (For Transactions in Foreign Currency Accounts of Resident Corporate Entities other of EPZs) Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency................................... Sl. No. DEPOSITS/RECEIPTS Purpose Code AMOUNT A. Receipts from abroad Cr. Lac. Th. Unit 01 Amount received as equity capital into FC A/C through banking channel from abroad (Schedule REFCR-1) 9050 02 Amount received as Inter-company loan into FC A/C (Schedule REFCR-2) 9055 03 Amount received as Long-term FC Loan into Foreign Currency Accounts(Schedule FEFCR-3) 9060 04 Other receipts from abroad ( Pl state) 9061 B. Receipts from Domestic Economy 05 Authorised local income credited through conversion of local currency-reported in Sl. No.2 of S-1 under E-3/P3 6062 C. Exchange, Transfer and Adjustments: 06 Amount received by way of transfer from foreign currency accounts maintained with other authorised dealers and /or conversion from other foreign currency 9070 07 Others (State) 9080 08 Opening balance 9200 a) Credit balance of Foreign Currency Account 9210 b) Account held as L/C covers 9211 GRAND TOTAL Month Code ADs Code Curr. Code

Page -2 STATEMENT S-9 (For Transactions in Foreign Currency Accounts of Resident Corporate Entities other of EPZs) WITHDRAWLS Purpose Code AMOUNT A Payments Cr. Lac. Th. Unit 01 Amount debited for Import Payments (Schedule (REFCP-1) 3001 02 Amount debited for Invisible Payments (Schedule (REFCP-2) 3002 03 Purchased by ADs for transfer to S-1,item-2,schedule-J (Schedule REFCP-3) 3003 B Income transferred from above deposits Sl. 05 to parent companies abroad 3004 C Exchange, Transfer and Adjustments: 04 Amount paid by way of transfer from foreign currency accounts maintained with other Authorized Dealers 3005 05 Others (State) 3006 06 Closing Balance 3200 a Credit balance of Foreign Currency Account 3210 b Account held as L/C covers 3211 GRAND TOTAL Signature: Name: Designation: Telephone:

Schedule REFCR-1 (Country-wise receipts as Equity Capital into FC accounts through Banking Channel) Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency................... Sl. Amount in foreign currency No. Name of the recipient Companies BOI Registration No. Country of origin Cr. Lac. Th. Unit

Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code

Schedule REFCR-2 (Country-wise Receipts as Inter-company Loan in FC accounts) Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency: Sl. Amount in foreign currency No. Name of the Companies BOI Registration No. Country of origin Cr. Lac. Th. Unit

Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code

Schedule REFCR-3 (Country-wise Receipts as Foreign Long-term Loan in FC accounts) Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency: Sl. Amount in foreign currency No. Name of the Companies BOI Registration No. Country of origin Cr. Lac. Th. Unit

Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code

Schedule REFCP-1 (Amount Debited for Import from FC Accounts) Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency: Quantity Amount in foreign currency Code Number Sl. No. Name of the Companies Unit Unit Code Volume Cr. Lac. Th. Unit Country of origin Commodity

Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code

Schedule REFCP-2 (Amount debited for Invisible payments from FC Accounts) Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency: Amount in foreign currency Code Number Sl. No. Name of the Companies Cr. Lac. Th. Unit Country Purpose

Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code

Schedule REFCP-3 (Purchased by ADs for transfer to S-1,item-2,schedule-J) Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency: Amount in foreign currency Sl. No. Name of the Companies BOI Registration No. F.C. A/C No. Debited Cr. Lac. Th. Unit

Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code

STATEMENT S-13 Transactions in Foreign Currency Accounts of Other Resident Entities Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency: USD/Pound Sterling/Euro/Japanese Yen/- Sl. No. Deposits Purpose Code Amount 01 Opening balance 1301 Receipts 02 Amount received from abroad to FC A/C during the month (Schedule PFCAR-1) 1302 03 Total un-utilised amount deposited to FC A/C during the month (Cash/TC etc.) 1303 04 Other authorised receipts ( Pl state) 1304 Exchange, Transfer and Adjustments: 05 Total amount received by way of transfer from other FC Accounts 1305 06 Total credit on account of interest earned 1306 07 Other (please state) 1307

Withdrawal Transferred abroad by the account holders during the month (a+b) 1311 a) Issued in the form of cash/TC/Draft etc. on account of travel abroad (Schedule PFCAP-1) Transferred to S-6. 1312 01 b) Transferred abroad on account of family maintenance and others (Schedule PFCAP-2) 1313 02 Payment against imports (Schedule PFCAP-3) 1314 Exchange, Transfer and Adjustments: 03 Total Amount Paid By way of Transfer To Other FC Accounts in Bangladesh 1315 04 Amount encashed to Taka -transferred To S-1 1316 05 Total other payment (State) 1317 06 Closing balance 1318 Grand Total

Signature: Name: Designation: Telephone: Month Code ADs Code Currency. Code

(Schedule : RPFCAR-1) Amount received from abroad to Foreign Currency Accounts

For month ........................... Year................. Name of the Authorised Dealer Bank........................ Currency: USD/Pound Sterling/Euro/Japanese Yen/- Sl. No. Name of the country Country Code Amount

Total Note:

1. No T/M and C-Form is needed for above reportings.
2. If the country & currency of several accounts are same, then write name and code of the country & currency in appropriate place and the individual amount should be merged together against that country and be reported in aggregate amount
3. Total of the schedule RPFCAR-1should be reported against purpose code no. 1302
4. Use next serial number for another country
5. Use another sheet for another currency Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code

(Schedule RPFCAP-1) Issue of Foreign Exchange in the form of Cash/TC/Draft on Account of Travel Abroad from FC Accounts. For month ........................... Year................. Name of the Authorised Dealer Bank........................ Currency: USD$/Pound Sterling/Euro/Japanese Yen/- Sl. No. Name of the country Country Code Amount

Total Note: 6. No T/M and C-Form is needed for above reportings. 7. If the country & currency of several accounts are same, then write name and code of the country & currency in appropriate place and the individual amount should be merged together against that country and be reported in aggregate amount 8. Total of the schedule RPFCAP-1should be reported against purpose code no. 1312 9. Use next serial number for another country 10. Use another sheet for another currency Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code

(Schedule RPFCAP-2) Transferred Abroad from FC Accounts on Account of Family Maintenance and Others For month ........................... Year................. Name of the Authorized Dealer Bank........................ Currency: USD/Pound Sterling/Euro/Japanese Yen/- Note:

1. No T/M and C-Form is needed for above reportings.
2. If the country & currency of several accounts are same, then write name and code of the country & currency in appropriate place and the individual amount should be merged together against that country and be reported in amount
3. Total of the schedule RPFCAP-2 should be reported against purpose code no. 1313
4. Use next serial number for another country
5. Use another sheet for another currency Signature: Name: Designation: Telephone: Month Code ADs Code Curr. Code Sl. No. For Family Maintenance Name of the country Country Code Amount

Sub Total Sl. No. For Others

Sub Total Grand Total

(Schedule RPFCAP-3) (Account Debited for Import) Name of the Authorised Dealer Bank........................ For month ........................... Year................. Currency: Sl. No. IMP Quantity Amount in Foreign Currency Code Number No. Unit Unit Code Volume Cr. Lac. Th. Unit Country of origin Commodity

Signature: Name: Designation: Telephone: Note:

1. No T/M and C-Form is needed for above reportings.
2. If the country & currency of several accounts are same, then write name and code of the country & currency in appropriate place and the individual amount should be merged together against that country and be reported in amount
3. Total of the schedule RPFCAP -3 should be reported against purpose code no. 1314
4. Use next serial number for another country
5. Use another sheet for another currency Month Code ADs Code Curr. Code