FEPD Circular Letter No. 35: Instructions to be followed for sending application to Bangladesh Bank

Date:
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.
FEPD Circular Letter No. 35 15 Ashwin, 1427
30 September, 2020
To All Approved Dealer Banks
Head Office/Principal Office.
Dear Sir,
With reference to the instructions to be followed for sending letters to Bangladesh Bank.

2. Attention is drawn to Circular Letter No. FEPD(A&ANFBP)/111/2009-493 dated 06/10/2009 of this department (copy enclosed). Although instructions were issued in the said letter to send applications to Bangladesh Bank for decision regarding the validity of customer applications that cannot be resolved by banks under the Foreign Exchange Regulation and Foreign Currency Loan Agreement and subsequent FE Circulars/letters issued, approved dealer banks are forwarding applications that can be resolved by them to Bangladesh Bank for decision. Furthermore, in the context of customer applications, forwarding to Bangladesh Bank without mentioning the branch's opinion/recommendation, necessary documents, the designation and phone number of the signing bank officer is causing inconvenience to customers and creating difficulties in work execution. In this regard, instructions are hereby issued again to follow the following guidelines for sending letters to Bangladesh Bank in the context of customer applications:

a) Applications received from customers must be resolved by their own judgment within the authority of the Foreign Exchange Regulation and Foreign Currency Loan Agreement-2018 and subsequent instructions issued by Bangladesh Bank in FE Circulars/Letters;

b) (a) In cases where applications cannot be resolved under the existing policy framework, they must be forwarded through a letter with joint signatures of the concerned Branch Head/Division Head and the responsible officer, along with their opinion/recommendation after describing the context; (b) The forwarded letter must be sent on the official letterhead of the concerned branch/division of the bank (photocopies are not acceptable); (c) The reference number and date of issue of the letter, the name and designation of the signing officer (similar to the Authorized Signatory of the Bank), SS Number/PN Number/PO Number/FX/FS Number (however it may be designated), direct telephone number and mobile phone number (both), and email address must be clearly mentioned; (d) The official seal of the officer must be used mandatorily;

c) The authenticity of the application must be verified in detail, and along with the recommendation for approval of the application, all documents must be attached with clear and legible photocopies, duly verified (with the name and seal of the verifying officer). In this regard, countersignatures are not acceptable;

(d) If the above instructions are not followed, the concerned application will not be considered for review.
This matter is considered very important.

Enclosure: 01 (One).
Yours faithfully,
(Mohammad Khurshid Wahab)
Managing Director
Phone: 9530123