Regulatory Alerts2020-06-17
Added · Updated
FEPD Circular Letter No. 23: Transactions against local deliveries in foreign exchange
Authorized Dealers in Bangladesh must accept delivery documents within the stipulated time and arrange payment on the due date of maturity for inland Back to Back Letters of Credit, usance LCs, and sight LCs, regardless of the availability of export proceeds. For sight inland Back to Back Letters of Credit under the Export Development Fund or sight LCs against advance export proceeds, Authorized Dealers are required to effect payments within the stipulated time against compliant documents without unnecessary delay. Branches and central processing centers are instructed to comply with these requirements, with failure to do so subject to action under BRPD Circular No. 06 of March 12, 2014.
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