Regulatory Alerts2015-03-02
Added · Updated
FEOD Circular Letter No. 03: Waiver of Overdue Bill of Entry
The Foreign Exchange Operations Department of Bangladesh Bank waives the requirement for approved dealer banks to report the details of bills of entry for goods cleared more than four months after shipment in their monthly statements. This exemption applies to goods for which customs certified bills of entry are obtained. However, banks must continue to report and seek prior approval from the department for goods that are lost, auctioned by customs, or not received due to port-related issues, as these remain subject to overdue bill of entry reporting obligations.
FOREIGN EXCHANGE OPERATIONS DEPARTMENT BANGLADESH BANK HEAD OFFICE DHAKA-1000. WEBSITE: www.bb.org.bd
CIRCULAR LETTER No.-03 DATE: Falgun 18, 1421 Bang March 02, 2015 AD
To: Managing Director / Chief Executive Officer All Approved Dealer Banks operating in Bangladesh
SUBJECT: Customs Certified Bill of Entry for goods cleared after 4 (four) months - Regarding the provision of overdue bills of entry.
Dear Sir,
Reference is invited to the letter of the Foreign Currency Policy Department dated 19/06/2005, Ref No. FCDP/(Import-2)/1/2005.
In this regard, it is informed that the instructions contained in the aforementioned letter remain unchanged. It is clarified that if the Customs Certified Bill of Entry for goods cleared more than 4 (four) months after shipment is obtained, there is no need to report the details of such overdue bills of entry in the monthly statement. However, for imported goods for which the Bill of Entry is not obtained, i.e., lost goods, goods auctioned by Customs, goods not received due to port-related reasons, etc., prior approval of this department must be obtained to report the value of imports in the monthly overdue bill of entry details statement.
Yours faithfully,
(Tofazzal Hossain) Deputy General Manager
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