Regulatory Alerts2016-01-21
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FEPD Circular Letter No. 02: Ensure raw jute export up to a certain limit against LCs opened up to 02 November 2015
The Department of Foreign Exchange Policy of Bangladesh Bank directs all Approved Dealers (AD) banks to prohibit the export of raw jute exceeding the approved limit of 2.77 lakh bales for Letters of Credit opened prior to 03 November 2015. This directive implements instructions from the Directorate of Jute under the Ministry of Textiles and Jute, referencing letter number 24.01.0000.04.71.011.15-358 dated 13 January 2016. The circular mandates that any raw jute exports beyond this specific threshold against the specified LCs must not be carried out.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Ref No: B.F.D.-R.E.(EP)220/2016-02 Circular Letter No: FEPD(Export Policy)220/2016-02 Date: 21 January, 2016 AD 08 Magh, 1422 Bangabda
To, All Approved Dealer Banks engaged in Foreign Exchange Transactions Head Office / Principal Office.
Dear Sir, Subject: Ensuring the prescribed amount of raw jute exports against LCs opened for raw jute exports up to 02/11/2015.
In reference to the letter No. 24.01.0000.04.71.011.15-358 dated 13/01/2016 from the Directorate of Jute, Department of Jute, Ministry of Textiles and Jute, Government of the People's Republic of Bangladesh, all AD banks and concerned parties are hereby instructed not to export raw jute in excess of the approved 2.77 lakh bales against Letters of Credit opened for the purpose of raw jute exports prior to 03/11/2015. A copy of the said letter is reproduced verbatim on the next page for the information of all concerned.
Yours faithfully, (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250
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