Regulatory Alerts2014-10-14
Added · Updated
FEPD Circular Letter No. 19: Regarding Import Policy Notice on BERC Licence checking during LC opening for importation of Petroleum bi-products
Approved Dealers Banks are instructed to verify that importers hold valid licenses from the Bangladesh Energy Regulatory Commission (BERC) before opening Letters of Credit for the importation of petroleum products. This requirement enforces the mandate under the Import Policy Order 2012-2015 and the Bangladesh Energy Regulatory Commission Act, 2003, which prohibits the storage, marketing, distribution, and supply of petroleum products without such licenses. Banks must ensure strict compliance with these regulatory directives during the LC opening process.
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