FEPD Circular Letter No. 16: Ensuring Importability Before Issuance of LCs

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.

Ref. No. FEPD(Circular) 16
17 Bhadra, 1422
Circular Letter No.- FEPD(Import Policy) 123/2015-16 Date: ------------------- 01 September, 2015

To,
All Approved Dealer Banks engaged in Foreign Exchange Transactions Head Office / Principal Office.

Dear Sirs,

Ensuring Importability of Imported Goods Before Issuance of Letters of Credit.

Reference is invited to the Memorandum No. 26.03.0000.001.05.011.15-390 dated 17/08/2015 issued by the Office of the Chief Controller of Imports and Exports, Government of the People's Republic of Bangladesh (copy enclosed).

In order to resolve complexities in clearing imported goods, the Office of the Chief Controller of Imports and Exports, Government of the People's Republic of Bangladesh has sent a memorandum requesting that the prevailing Import Policy Order/Rules/SROs be strictly complied with before the issuance of Letters of Credit (LCs), thereby ensuring the importability of the concerned goods. A copy of the same is enclosed herewith for your information and necessary action.

You are requested to inform all concerned parties regarding this matter.

Enclosed: As above

Yours faithfully,

(Md. Zakir Hossain Chowdhury)
Deputy General Manager
Phone: 9530250