Regulatory Alerts2016-06-12
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FEPD Circular Letter No. 18: Transfer of 0.03% of Export Proceeds from 100% Export Oriented Garment Industries to Central Fund at Sonali Bank Ltd.
Approved dealer banks must transfer 0.03% of the total export value from cashed Letters of Credit for 100% export-oriented garment industries to a Central Fund account maintained at Sonali Bank Ltd., Ramna Corporate Branch. This transfer must be completed within seven days of the transaction, in accordance with directives from the Ministry of Labour and Employment regarding the implementation of the Labour Act, 2006 and Bangladesh Labour Rules, 2015. Branches are required to inform the Secretary of the Central Fund Management Board about the transferred amounts.
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