Regulatory Alerts2019-01-09
Added · Updated
FEPD Circular No. 04: Use of balances held in foreign currency (FC) accounts by Type A industrial enterprises
Type A industrial enterprises in Export Processing Zones (EPZs) and Export Zones (EZs) may use balances held in their foreign currency (FC) accounts to purchase shares in zone areas or outside zone areas in Bangladesh, treating such transactions as reinvestment. Authorized Dealers receiving funds for these share purchases must observe all instructions, including issuance of certificates and reporting routines, contained in Chapter 9 of the Guidelines for Foreign Exchange Transactions-2018 and subsequent circulars. Dividend income from such investments and approved disinvestment proceeds may be credited to the enterprises' FC accounts, subject to compliance with tax regulations.
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