Regulatory Alerts2019-01-09
Added · Updated
FEPD Circular No. 05: Repayment against imports under supplier's/buyer's credit - relaxation
Paragraph 33(c)(i) of Chapter 7 of the Guidelines for Foreign Exchange Transactions (GFET)-2018 is amended to permit bullet repayment for imports under supplier's or buyer's credit with a usance period beyond six months but within one year. This relaxation applies specifically to imports amounting to USD 0.50 million or equivalent. The change allows Authorized Dealers in Foreign Exchange in Bangladesh to process these specific credit terms for smaller value imports.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No. 05 Date: 09 January 2019 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Repayment against imports under supplier’/buyer’s credit – relaxation
Paragraph 33(c)(i), chapter 7 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Vol.-1 permits bullet repayment only on import financing for terms not exceeding six months, and only on shipments not exceeding USD 1.00 million or equivalent in value. 2. To facilitate import in small value, it has been decided that bullet payment will be permissible for imports amounting to USD 0.50 million or equivalent under supplier’/buyer’s credit of goods admissible for usance period beyond 6 months but within one year. Please bring the contents of this circular to the notice of all your concerned clientele. Yours faithfully, (Mohammad Khurshid Wahab) General Manager Phone: 9530123
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