Regulatory Alerts2025-03-27
Added
FEPD Circular Letter No. 15: Credit reports of the foreign suppliers-amended
The last sentence of paragraph 2 in FE Circular No. 07 dated January 14, 2025 is replaced to clarify verification procedures for Authorized Dealers. For indents from local agents, Authorized Dealers must verify that agents are regular in repatriating commission income using information from importers. For own customers, Authorized Dealers shall check their own records for satisfaction.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No.15 Date: March 27, 2025 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Credit reports of the foreign suppliers Please refer to FE Circular No. 07, dated January 14, 2025 regarding credit reports of foreign suppliers for import transactions. 02. To avoid complexity in observance of the instructions, the last sentence of paragraph 2 of the above mentioned circular shall be replaced by: “In respect of indents from local agents, ADs need to satisfy themselves that the respective agents are regular in repatriation of commission income through the information from importers. In case of own customers, ADs shall check their own records for satisfaction.”
Other relevant instructions shall remain unchanged. Please bring the above amendment to the notice of your constituents. Yours faithfully,
(Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123