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2024-05-21

Added 2026-08-07

FEOD Circular Letter No. 01: Regarding Harmonized Number System against Import LCs and Contracts

The document mandates the use of a harmonized 32-digit Nature Code system for all import Letters of Credit (LCs) and contracts, replacing previous classifications. It specifies 24 codes for foreign imports and 9 codes for local imports, with code 99 reserved for both categories. Importers must use 12-digit serial numbers for foreign imports and 13-digit serial numbers for local imports, and banks are instructed to update their systems to generate reports using these specific codes.

Bangladesh

Bangladesh Bank

FEOD Circular Letter No. 01 Date: Date: To: Managing Director/Chief Executive Officer/Branch Manager All Branches of Banks Operating in Bangladesh

Subject: Harmonization of Number System against Import LCs/Contracts.

Reference is made to the Department of Business Affairs Circular Letter No. FEOD(COM)204/2001-1790 dated 01/11/2001 and Foreign Exchange Operation Department Letter No. FEOD/Import/92/2016-1137 dated 07/03/2016, and your attention is invited to the same.

It has been decided to implement Nature Code No. 04 in the Online Import Monitoring System for the purpose of foreign exchange control against Import LCs. Accordingly, the use of Nature Code No. 04 has been introduced for Import LCs, and the reporting of the same has been made mandatory.
As Nature Code No. 04 has been introduced, a total of 32 Nature Codes will be used according to the type of Import LC/Contract. Among these, 24 codes (01, 02, 05, 06, 07, 08, 09, 10, 11, 12, 15, 16, 19, 20, 21, 22, 23, 24, 25, 26, 27, 31, 32, and 99) are designated for Foreign Imports, and 9 codes (03, 04, 13, 14, 17, 18, 33, 34, and 99) are designated for Local Imports. It is noted that Code 99 will be applicable to both. For Foreign Imports, a 12-digit unique identifier (Serial Number from 9th to 12th position) will be used, and for Local Imports, a 13-digit unique identifier (Serial Number from 9th to 13th position) will be used. The description of LCs/Contracts according to the Code is provided below.
It is advised that you and your branches appropriately update the system and generate reports using the Codes mentioned above.

Yours faithfully,

(Com: Moyezuddin Sarker) Director (FEOD) Phone: +88 02 9530127

07 Joistho 1431 Bang 21 Jan 2024 Eng

Foreign Exchange Operation Department (Import Card Section) LC/Contract Harmonized Code List

Foreign LC/Contract (12 digit) 01 Cash L/C(Sight) 02 Cash L/C(Usance) 05 Foreign BTB L/C(Sight) 06 Foreign BTB L/C(Usance) 07 L/C Under AID/Loan 08 L/C Under Special Trading Arrangement (STA) 09 Import From EPZ (Cash L/C)(Sight) 10 Import From EPZ (Cash L/C)(Usance) 11 Import From EPZ (BTB L/C)(Sight) 12 Import From EPZ (BTB L/C)(Usance) 15 Foreign Contract(DP) 16 Foreign Contract(DA) 19 Import by EPZ company from outside EPZ within country (Sight) 20 Import by EPZ company from outside EPZ within country (Usance) 21 Import by EPZ company from outside country (Sight) 22 Import by EPZ company from outside country (Usance) 23 Import by deemed exported manufacturing units under EDF facility 24 Foreign BTB LC by EPZ (Sight) 25 Foreign BTB LC by EPZ (Usance) 26 Import from Bangladesh by EPZ companies under BTB LC (Sight) 27 Import from Bangladesh by EPZ companies under BTB LC (Usance) 31 Foreign BTB Contract (BBDP) 32 Foreign BTB Contract (BBDA) 99 Others(L/C)

Local LC/Contract (13 digit) 03 Inland BTB L/C(Sight) 04 Inland BTB L/C(Usance) 13 Local Contract(DP) 14 Local Contract(DA) 17 Import by EPZ company from EPZ company (Sight) 18 Import by EPZ company from EPZ company (Usance) 33 Inland BTB Contract (LBBDP) 34 Inland BTB Contract (LBBDA) 99 Others(L/C)

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