FEPD Circular Letter No. 32: Settlement of import liabilities out of export proceeds

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 32 Date: September 06, 2022 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Settlement of import liabilities out of export proceeds Please refer to FE Circular Letter No. 30 of August 03, 2022 regarding use of value added portion of export proceeds for settlement of import obligations within a maximum period of 15 days. 02. To bring flexibility in trade transactions, it has been decided to increase the retention time to 30 days from 15 days for utilization of the fund to settle import liabilities of relevant exporters. The fund may also be transferable to other ADs, within this prescribed time of 30 days, for settlement of import payments and/or EDF liabilities against admissible bulk imports of relevant exporters. 03. As usual, transferable funds need to be unencumbered. Before transferring funds, ADs need to satisfy themselves of payment obligations by documentary evidences. ADs transferring the fund will make foreign exchange available to relevant ADs through foreign currency clearing accounts maintained with Bangladesh Bank. All other relevant instructions shall remain unchanged. You are advised to bring the contents of this circular letter to the notice of your relevant customers. Yours faithfully, (Md. Sarwar Hossain) Director (FEPD) Phone: 9530123