Regulatory Alerts2013-02-04
Added · Updated
FEPD Circular No. 03: Discounting of Direct/Deemed Export Bills in Foreign Currencies
Beneficiaries of usance export bills for direct and deemed exports of products produced in Bangladesh may arrange to discount bills for immediate financing through their authorized dealer banks. Authorized Dealers must ensure the bills arise from bona fide transactions, may source foreign exchange funds from own overseas branches, correspondent banks, or international financing institutions, and must cap total discounting expenses at 6 percent. Authorized Dealers are required to submit monthly statements of these transactions to the Foreign Exchange Policy Department by the 15th day of the following month.
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