Regulatory Alerts2022-10-26
Added
FEPD Circular Letter No. 38: Import/Accepted Bill Payment on maturity
The Foreign Exchange Policy and Development Department (FEPD) of Bangladesh Bank directs all approved dealer banks to reissue instructions to their branches ensuring the timely payment of foreign and local accepted bills. The circular warns that failure to comply will result in the cancellation of the relevant Authorized Dealer (AD) license and legal action against responsible officials. This directive reinforces existing guidelines from 2014, 2018, and 2020 to prevent disorder in foreign trade caused by delayed payments.
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