Regulatory Alerts2022-07-28
Added
FEPD Circular Letter No. 29: Online reporting of import information to Bangladesh Bank web portal
Authorized Dealers must report import information amounting to USD 3.00 million and above or its equivalent to the Bangladesh Bank Online Import Monitoring System (OIMS) 24 hours prior to opening letters of credit based on proforma invoices or purchase contracts. This instruction revises the previous threshold of USD 5.00 million and excludes imports by the Government. Authorized Dealers are required to submit a final report 24 hours after the initial submission and ensure compliance across all branches, including central trade processing centers and offshore banking operations.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 29 Date: July 28, 2022 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Online reporting of import information to Bangladesh Bank web portal Please refer to Circular Letter No. 24 of July 14, 2022 regarding submission of information on import amounting to USD 5.00 million and above or its equivalent to Bangladesh Bank Online Import Monitoring System (OIMS) 24 hours prior to opening letters of credit (LCs) based on proforma invoices/purchase contracts. Authorized Dealers (ADs) are hereby advised to report to OIMS for import amounting to USD 3.00 million and above or its equivalent. As usual, the report excludes imports by the Government. ADs shall submit final report after 24 hours from above mentioned reporting. Please bring the revised instruction, effective immediately, to all your AD branches including central trade processing centers and offshore banking operations for its meticulous compliance. Yours faithfully, (Md. Sarwar Hossain) Director (FEPD) Phone: 9530123