Regulatory Alerts2013-07-04
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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.
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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