FEPD-1 Circular No. 18: Appointment of Audit firms for Auditing of Export Incentive/Export Subsidy

Foreign Exchange Policy Department-1 Bangladesh Bank Head Office Dhaka. www.bb.org.bd FEPD-1 Circular No. 18 Date: Ashar 21, 1433 July 05, 2026

To All Authorized Dealer Banks Head Office/Principal Office. Regarding the Appointment of Audit Firms for Providing Alternative Cash Assistance/Export Subsidy in the Export-Oriented Domestic Textile Sector, including other applicable sectors, in lieu of Duty Bond and Duty Drawback. Dear Sir/Madam, Your attention is drawn to FEP Circular Letter No. 10, dated July 08, 2024, and FEP Circular No. 20, dated December 03, 2023, on the subject mentioned above. In accordance with the instructions of the FEP Circular Letter under discussion and other related circulars, an equal number of audit firms engaged in the bank's audit can be appointed by the bank for the purpose of auditing applications for cash assistance/export subsidy. Furthermore, if additional audit firms are required beyond those already appointed, there are instructions to submit an application to Bangladesh Bank, complying with the applicable guidelines. 02| In this regard, it has been decided that applications for cash assistance/export subsidy against exports for the financial year 2026-2027 can be audited by an equal number of audit firms engaged in the bank's audit, subject to the No Objection Certificate (NOC) from Bangladesh Bank, Foreign Exchange Policy Department-1. However, if additional audit firms are required beyond those already appointed, an application must be submitted to the aforementioned department for approval, stating the justification for appointing additional audit firms, information on the relevant firm's engagement with the bank in the past, the number of cash assistance/export subsidy cases, and the required number of audit firms along with necessary information. 03| Other instructions of the aforementioned FEP Circular Letter No. 10, dated July 08, 2024, and FEP Circular No. 20, dated December 03, 2023, regarding audit activities, and instructions of other related FEP Circulars/Circular Letters shall remain in force. All concerned parties are instructed to be informed of the matter. Yours faithfully, (Md. Harun-Ar-Rashid) Director (FEPD-1) Phone No. : 9530123