FEPD Circular Letter No. 23: Usance import under purchases/sales contracts

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 23 Date: June 24, 2025 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Usance import under purchases/sales contracts Please refer to FE Circular No. 24 of October 24, 2024 regarding the operational formalities to be followed by Authorized Dealers (ADs) for facilitating import transactions under purchases/sales contracts. As a part of formalities, the circular requires reporting of the relevant purchases/sales contracts to Bangladesh Bank as per FE Circular No. 29 of October 20, 2022. 02. It is observed that ADs are reluctant to facilitate import transactions under purchases/sales contracts considering themselves to be responsible for effecting payments as per paragraph 3 of FE Circular No. 29/2022. This is to clarify that ADs do not take exposure on importers against imports under purchases/sales contracts. They need to observe procedural formalities to effect payments from the fund made available by importers. In case of non￾payment by importers, ADs shall comply with the provision at paragraph 1(c)(iv) of FE Circular No. 24/2024. Accordingly, past performances of importers as per 1(c)(i) of the referenced circular shall mean payment behavior, if any, of importers regarding import payment settlement under purchases/sales contracts. Other relevant provisions shall remain unchanged. You are advised to facilitate import transactions under purchases/sales contracts in terms of FE Circular No. 24/2024. Yours faithfully,

(Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123