Regulatory Alerts2014-01-30
Added · Updated
FEPD Circular No. 06: Pledging of collateral in favor of overseas bank branches and correspondents
Authorized Dealers are permitted to hold collaterals on behalf of overseas bank branches or correspondents for external borrowing by industrial enterprises approved by the Board of Investment without prior approval from Bangladesh Bank. This authorization constitutes an exception to the general prohibition in paragraph 13, Chapter 16 of the Guidelines for Foreign Exchange Transactions (GFET)-2009, Volume-1, which otherwise requires prior approval for furnishing guarantees or holding collaterals for such entities. All other instructions within the referenced paragraph remain unchanged.
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