Regulatory Alerts2012-07-26
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FEOD Circular Letter No. 02: Suspension of Payment of 0.50% Freight Brokerage Charge to Shippers' Council of Bangladesh
The Foreign Exchange Operations Department of Bangladesh Bank suspends the operational validity of Circular Letter No. 01 for an additional six months, effective from June 14, 2012. This suspension is mandated by a stay order from the High Court Division of the Supreme Court regarding Writ Petition No. 1875/2012, which concerns the requirement for shipping companies to pay a 0.50% freight brokerage charge to the Shippers' Council of Bangladesh. Authorized dealer banks are instructed to inform their respective branches of this directive.
Foreign Exchange Operations Department Bangladesh Bank Head Office Dhaka. Website: www.bb.org.bd 11 Srabon, 1419 Circular Letter No.-02 Date: ------------------ 26 July, 2012 To All Approved Dealer Banks Head Office / Principal Office.
Dear Sir,
Regarding the payment of 0.50% freight brokerage charge to the Shippers' Council of Bangladesh (SCB) by shipping companies/shipping agents.
Reference is drawn to Circular Letter No. 01 dated 01 August, 2011 of this department on the subject cited above.
In this regard, it is mentioned that in light of Writ Petition No. 1875/2012 filed before the Honorable High Court Division of the Honorable Supreme Court, the operational validity of the said Circular Letter has been suspended for another 06 (six) months in accordance with the stay order dated 14 June, 2012 of the Honorable High Court.
It is advised to inform your respective authorized dealer branches regarding the above instructions.
Thanking you.
Yours faithfully,
(Md. Aulad Hossain Chowdhury) Deputy General Manager Phone: 9564800
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