FE Circular No. 30 : Export Development Fund (EDF)

The maximum single borrower limit for a member mill of the Bangladesh Garments Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA) borrowing from the Export Development Fund (EDF) is increased from USD 1.00 million to USD 2.00 million. This change applies to Authorized Dealers of Foreign Exchange in Bangladesh when providing loans against foreign currency financing for bulk imports of raw materials for local deliveries of garment accessories. All other instructions contained in FE Circular No. 04 dated February 10, 2013 remain unchanged.

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Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka. www.bb.org.bd
FE Circular No. 30 Date: 21 July, 2014
All Authorized Dealers of
Foreign Exchange in Bangladesh
Dear Sirs,
Export Development Fund (EDF)
Please refer to FE Circular No. 04, dated February 10, 2013 in terms of which an Authorized Dealer may borrow maximum USD 1.00 million loan from EDF against their foreign currency financing for making bulk import of raw materials for a member mill of the Bangladesh Garments Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA) for local deliveries of garment accessories to manufacturerexporters against inland back to back LCs in foreign exchange.
02. It has now been decided to enhance the existing limit of USD 1.00 million to
USD 2.00 million as a maximum single borrower limit for a member mill of the BGAPMEA. Other instructions contained in FE Circular No. 04, dated February 10, 2013 shall remain unchanged. Please bring the contents of this circular to the notice of all concerned. Yours faithfully, (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250

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Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works