Regulatory Alerts2019-11-17
Added · Updated
FEPD Circular Letter No. 28: Operations of foreign currency accounts and taka accounts for enterprizes of Export Processing Zones (EPZs), Economic Zones (EZs) and Hi-Tech Parks (HTPs)
Authorized Dealers are permitted to credit legitimate receipts against short weight claims, quality claims, freight charges for samples, insurance claims, and reimbursements of expenses for samples from buyers or parents to foreign currency or local currency accounts of enterprises operating in Export Processing Zones, Economic Zones, and Hi-Tech Parks. This expansion applies to inward remittances other than foreign equity, authorized foreign loans, and export proceeds. Authorized Dealers must observe due diligence in compliance with KYC and AML/CFT standards while crediting accounts under these grounds based on documentary evidence.