Regulatory Alerts2018-12-27
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FEPD Circular Letter No. 18: Opening of LC to import consumer goods
Approved dealer banks are granted general authorization to establish letters of credit for importing consumer goods, provided they comply with existing foreign exchange transaction regulations. The directive instructs all branches of these banks to cooperate with importers in opening such letters of credit to ensure the uninterrupted supply of essential commodities in the local market.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd
13 Poush, 1425 Date: ------------------- 27 December, 2018
CIRCULAR LETTER No.- 18
To: All Approved Dealer Banks Head Office/Principal Office.
Dear Sir,
Regarding the establishment of Letters of Credit for the import of daily necessities.
Under the existing foreign exchange transaction system, general authority has been granted in favor of approved dealer banks for the establishment of Letters of Credit for the import of importable goods, subject to compliance with the regulations followed.
In order to maintain the uninterrupted supply of daily necessities in the local market, you are advised to issue instructions to all your approved dealer bank branches to provide necessary cooperation to importers for the establishment of import Letters of Credit, subject to compliance with the regulations followed in the foreign exchange transaction system.
Yours faithfully,
(Signature) (Md. Abdul Mannan) Deputy General Manager Phone-9530319
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