Regulatory Alerts2020-07-29
Added · Updated
FEPD Circular Letter No. 27: Payment in foreign exchange against local supply of goods
Authorized Dealers in Bangladesh are required to settle procurements from local sources by local contractors implementing work orders under international tenders in local currency. Such local payments cannot be made using foreign exchange funds retained for 30 days under paragraph 42(ii) of chapter 7 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, nor from the Authorized Dealers' own sources. The circular directs Authorized Dealers to bring these requirements to the notice of their concerned clientele.
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