Regulatory Alerts2019-05-20
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FE Circular No. 23: Extending interest free Taka working capital loan to foreign owned/controlled companies
General approval is granted to companies resident in Bangladesh for extending interest-free Taka working capital loans to foreign-owned or controlled companies operating in Bangladesh. This directive serves as a general waiver from Section 18(2) of the FER Act, 1947, building upon previous provisions in the Guidelines for Foreign Exchange Transactions-2018. The instructions are effective immediately and apply to all authorized dealers in foreign exchange in Bangladesh.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 23 Date: 20 May, 2019 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Extending interest free Taka working capital loan to foreign owned/controlled companies Please refer to paragraph 4(B), chapter 16 of the Guidelines for Foreign Exchange Transactions-2018, Vol-1 in terms of which general waiver from Section 18(2) of the FER Act, 1947 has been given to banks for granting Taka working capital loans to foreign owned/controlled companies operating in Bangladesh. 02. General approval is hereby given to companies resident in Bangladesh for extending interest free Taka working capital loans to foreign owned/controlled companies in Bangladesh. Please bring the above instructions, effective immediately, to the notice of your concerned constituents. Yours faithfully, (Mohammad Khurshid Wahab) General Manager Phone: 9530123
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