Regulatory Alerts2015-07-08
Added · Updated
FEPD Circular Letter No. 10 : Issuance of guarantee against foreign currency loan
Authorized Dealers in Foreign Exchange in Bangladesh are clarified to not require prior approval from Bangladesh Bank to issue guarantees, such as corporate, personal, or third-party guarantees, favoring foreign lenders. This exemption applies specifically to external borrowing by industrial enterprises that have been approved by the Board of Investment. The clarification supplements F.E. Circular No. 06 dated January 30, 2014, which previously allowed Authorized Dealers to hold collaterals on behalf of foreign lenders for such approved borrowings without prior approval.
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