FEOD Circular Letter No. 1: Payment of Overdue Accepted Bill (Foreign or local)

Foreign Exchange Operations Department
Bangladesh Bank
Head Office
Dhaka.
Ref. No. FEOD-2025
30 Chaitra, 1431
FEOD Circular Letter No.-01 Date: ------------------- 13 April, 2025

To:
All Approved Dealer Banks engaged in Foreign Currency Transactions Head Office / Principal Office.

Dear Sir,

Subject: Payment of Overdue Accepted Bill (Foreign or local).

Reference is made to the instructions issued vide BEPD Circular No. 2-2018, Volume-01, Chapter-07, Para-34(A); BRPD Circular No. 06/2014; FE Circular Letter No. 23/2020; FE Circular Letter No. 38/2022; and FE Circular No. 30/2024 regarding the subject cited above.

2. Failure to pay the bill value on time against imports damages the reputation of the country's banking system; and considering that it increases the cost of foreign trade and disrupts the favorable environment, banks shall take the following measures to ensure the prompt payment of overdue accepted bills (Foreign or local):

a. Banks shall formulate a comprehensive plan incorporating detailed monitoring (case-pending, attachment-related, large industrial establishments, etc. based special monitoring);

b. In the detailed monitoring, branch-based (where applicable) performance evaluation shall be conducted; and special monitoring measures shall be initiated in those branches where the amount of overdue unpaid accepted bills (Foreign or local) is high;

c. If any bill is not payable due to a case-pending status, the supplier's bank shall be informed; and

d. In the submission of monthly reports of overdue accepted bills (Foreign or local), information shall be sent through the Core Banking System (CBS) verification.

3. Information regarding all bills (Foreign or local) submitted at the branch, discrepancies provided (if any), and bill value payment details shall be preserved and sent to the relevant department of the Head Office on a monthly basis.

4. These instructions are issued under the powers conferred by Section 20(3) of the Foreign Exchange Regulation Act, 1947 and Section 45(1)(d) of the Bank Company Act, 1991. The revised instructions shall take immediate effect.

Kindly inform all concerned parties regarding this matter.

Yours faithfully,

(Kamal Hossain)
Director (FEOD)
Phone: 9530127