Regulatory Alerts2019-10-07
Added · Updated
FEPD Circular Letter No. 22: Regarding not to open Letter of Credit in favor of importers without the new 13-digit BINs
The document instructs authorized dealer banks to refrain from issuing letters of credit on behalf of importers who do not possess the new 13-digit Business Identification Numbers (BINs). This directive enforces instructions issued by the National Board of Revenue on September 29, 2019, requiring all concerned parties to take necessary measures to comply with the new identification requirement for import transactions.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka.
Ref. No. FEPD Circular Letter No. 22 dated: October 07, 2019
To: All Authorized Dealer Banks engaged in Foreign Exchange Transactions Head Office / Principal Office.
Dear Sirs,
Regarding the issuance of Letters of Credit on behalf of importers without the new 13-digit BINs.
In this regard, the instructions contained in the National Board of Revenue document No. 08.1.0000.068.11.005.12 (101)/2017/596 (Copy Attached) dated 29/9/2019 are reproduced herewith for your necessary action.
- Please inform all concerned parties about the subject matter of this circular letter.
Yours faithfully,
According to: (Mohammad Khurshid Wahab) General Manager Phone: 9530123
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