Regulatory Alerts2015-07-12
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FEPD Circular Letter No. 11: Import through LCAF without opening LC
The document notifies authorized dealer banks of the amendment to paragraphs 8(3) and 8(4)(b) of the Import Policy Order, 2012-15, via S.R.O. No. 161-Law/2015 issued by the Ministry of Commerce on June 4, 2015. Banks are required to inform relevant parties regarding these regulatory changes to facilitate imports through the LCAF form without opening a Letter of Credit.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka-1000. Ref. No. FEPD(Circular)/115/2015-11 Date: July 12, 2015
To, The Head Office / Principal Office of all Authorized Dealer Banks engaged in foreign exchange transactions.
Dear Sirs,
Regarding import through LCAF without opening LC.
In this regard, please find attached for your information and necessary action the Gazette notification S.R.O. No. 161-Law/2015, dated June 04, 2015, which amends the existing provisions of paragraphs 8(3) and 8(4)(b) of the Import Policy Order, 2012-15, issued by the Ministry of Commerce, Government of the People's Republic of Bangladesh. Please kindly inform all concerned persons regarding the aforementioned S.R.O.
Yours faithfully,
(Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250
Enclosure: As above.
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