Rule · BB · 4 Jul 2013

FEPD Circular Letter No. 19: End of Mandatory PSI System and Start of Optional PSI System

The Foreign Exchange Policy Department of Bangladesh Bank notifies authorized dealer banks of the cessation of the mandatory Pre-Shipment Inspection (PSI) system and the commencement of the optional PSI system effective July 1, 2013. This circular includes a copy of a letter from the National Board of Revenue dated July 2, 2013, regarding the PSI Audit Agency, and instructs banks to take necessary action based on this notification.

BangladeshBangladesh Bank

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka-1000
Ref. No. FEPD(Import Policy)123/2013-19
Date: ------------------
July 4, 2013

To,
The Head Office / Principal Office of all Authorized Dealer Banks engaged in Foreign Exchange Transactions.

Dear Sirs,

Regarding the end of the mandatory PSI system on 30/06/2013 and the start of the optional PSI system from 01/07/2013.

A copy of the document No. 1(36)Custom Valuation/PSI Audit Agency Appointment/2001(Part-1)/189, dated 02/07/13, from the Government of the People's Republic of Bangladesh - National Board of Revenue, on the subject mentioned above, is enclosed herewith for your information and necessary action.

Yours faithfully,

Enclosure: As above

(Md. Zahirul Haque)
Deputy General Manager
Phone: 9512604

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