Regulatory Alerts2023-03-06
Added
FEPD Circular No. 04: Realization of export proceeds
Authorized Dealers must apply the exchange rate on the actual realization date for encashment but calculate payments to exporters using the rate on the original due date when export proceeds are delayed beyond the prescribed four-month period. The resulting adverse exchange rate difference must be retained in separate subsidiary ledgers by the Authorized Dealers. These entities are required to submit monthly reports detailing the amounts retained in these ledgers to Bangladesh Bank within 10 days of the following month. This procedure also applies to the encashment of unused value-added portions of export proceeds.
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