Regulatory Alerts2016-06-19
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FE Circular No. 17: Enhancement of Export Development Fund Limit
The limit for Authorized Dealers to borrow from the Export Development Fund (EDF) is increased from USD 15.00 million to USD 20.00 million specifically for BGMEA member mills. This enhancement applies to loans against foreign currency financing for input procurement by manufacturer-exporters holding an export LC, firm export contract, or inland back to back LC. Instructions from FE Circular No. 25 dated December 22, 2009, and subsequent circulars remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No.17 Date: June 19, 2016 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Enhancement of Export Development Fund (EDF) Please refer to paragraph 5(a) of FE Circular No. 25, dated December 22, 2009 read with FE Circular No. 13, dated October 10, 2013 and FE Circular No. 26, dated June 24, 2014 in terms of which an Authorized Dealer may borrow maximum USD 15.00 million loan from EDF against their foreign currency financing of input procurement for a manufacturerexporter against an export LC/firm export contract/inland back to back LC. 02. It has now been decided to enhance the limit of USD 15.00 million to USD 20.00 million for BGMEA member mills. Other instructions contained in FE Circular No. 25, dated December 22, 2009 and its subsequent circulars shall remain unchanged. Yours faithfully, (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250
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