Regulatory Alerts2017-08-20
Added · Updated
FE Circular No. 33: Issuance of bank guarantees against import under buyer's credit
Authorized Dealers may issue repayment bank guarantees on behalf of industrial importers without prior Bangladesh Bank approval to favor the International Islamic Trade Finance Corporation for short-term buyer’s credit up to 180 days. These guarantees apply to imports of industrial raw materials for the importer's own use on a sight basis, subject to applicable credit norms and prudential parameters including single borrower exposure limits. If a guarantee is invoked, Authorized Dealers must report the circumstances to Bangladesh Bank and provide a copy of the relevant bill of entry.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.
Topics
fx
credit
Share