Regulatory Alerts2022-07-20
Added
FE Circular No. 18: Extension of usance period of import of industrial raw materials
The usance period for imports of industrial raw materials, including back-to-back imports, and imports of agricultural implements and chemical fertilizers under supplier’s or buyer’s credit is extended to 360 days from 180 days. This extension is effective until December 31, 2022, and does not apply to imports under EDF loans. Authorized Dealers in Foreign Exchange in Bangladesh are advised to notify their customers of these changes.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 18 Date: July 20, 2022 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Extension of usance period of import of industrial raw materials Attention of Authorized Dealers (ADs) is invited to paragraph 2(a) of FE Circular No. 01, dated January 06, 2022 regarding extension of usance period to 270 days from 180 days for imports of industrial raw materials including back to back imports, and imports of agricultural implements and chemical fertilizers under supplier’s/buyer’s credit as per paragraph 33(a)(ii) and 33(a)(iv), chapter 7 of the Guidelines for Foreign Exchange Transactions-2018, Vol.-1. 02. It has now been decided to extend the usance period to 360 days from 180 days effective till December 31, 2022. The extended usance period will not be applicable for imports under EDF loans. Other relevant instructions shall remain unchanged. ADs are advised to bring the contents of this circular to the notice of their customers. Yours faithfully, (Md. Sarwar Hossain) Director (FEPD) Phone: 9530123