Regulatory Alerts2022-10-27
Added
FEPD Circular Letter No. 39: Payments through Asian Clearing Union (ACU)
All Authorized Dealers in Bangladesh are advised not to conduct any trade and trade-related transactions with Sri Lanka through the Asian Clearing Union mechanism. This directive responds to the Central Bank of Sri Lanka's temporary suspension from the ACU mechanism effective October 14, 2022. The instruction applies to all Authorized Dealers and supersedes previous guidelines regarding payment settlement through the ACU.
BANGLADESH BANK (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh www.bb.org.bd Foreign Exchange Policy Department FE Circular Letter No. 39 Date: October 27, 2022 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Payments through Asian Clearing Union (ACU) Please refer to the Paragraph 2, Chapter 3 of the Guidelines for Foreign Exchange Transactions (GFET)-2018 (Vol‐1) regarding instructions for payment settlement through ACU mechanism. 02. In response to the self-motivated decision by the Central Bank of Sri Lanka (CBSL) to remain temporarily suspended from ACU mechanism with effect from October 14, 2022; all Authorized Dealers (ADs) are advised not to do any trade and trade related transactions with Sri Lanka through ACU mechanism. Please bring the contents of this circular to the notice of all concerned. Yours faithfully, (Md. Sarwar Hossain) Director (FEPD) Phone: 9530123