Regulatory Alerts2013-12-10
Added · Updated
FEPD Circular Letter No. 35 : Online reporting of foreign exchange transactions
Authorized Dealers must report import transactions specifying FOB value, freight, and insurance charges through the existing online import reporting module starting January 01, 2014. This requirement applies to import settlements on CFR or other permissible terms that require payment for goods together with freight and applicable insurance charges. Two new fields for freight charges and insurance expenses have been incorporated into the web portal to facilitate this reporting.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd Circular Letter No. FEPD (Import)/125/2013-35 Date: 10 December, 2013 Head Offices/Principal Offices of All Authorized Dealer Banks in Bangladesh Dear Sirs, Online reporting of foreign exchange transactions Please refer to FEPD Circular Letter No. FEPD (Export)/220/2012-26 dated December 09, 2012 in terms of which Authorized Dealers (ADs) report all types of their foreign exchange transactions to Bangladesh Bank on daily basis through web portal. 02. It has been decided to incorporate two new fields namely freight charges and insurance expenses in the existing online import reporting module. ADs are, therefore, advised to report import transactions specifying FOB value (goods value), freight and insurance charges, if applicable, for import settlement from January 01, 2014 and onward. This reporting procedure will be applicable against import on CFR or other permissible terms requiring payment for goods together with freight and applicable insurance charges. Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319
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