Regulatory Alerts2016-10-06
Added · Updated
FEPD Circular Letter No. 30: Regarding Approval of Bangladesh Bank for Revalidation of LCAF in case of Import under Long Term Buyer's/Supplier's Credit
The document exempts the import of machinery and equipment under long-term buyer's or supplier's credit exceeding one year from the requirement to obtain separate approval from Bangladesh Bank for the revalidation of the Letter of Credit Approval Form (LCAF). Instead, the approval granted by the Bangladesh Investment Development Authority (BIDA) is deemed sufficient for this purpose. Authorized dealers are instructed to inform all relevant parties of this exemption.
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