Regulatory Alerts2025-01-14
Added
FEPD Circular No. 07: Credit reports of the foreign suppliers
Authorized Dealers in Foreign Exchange in Bangladesh must now obtain credit reports on foreign suppliers only when the Letter of Credit or contract amount exceeds 30,000 US dollar for proforma invoices issued directly from abroad, and 40,000 US dollar for indents issued by local agents. For indents from local agents, Authorized Dealers must verify that the agents are regular in repatriating commission income. Authorized Dealers are prohibited from remitting more than one time as collection cost for a credit report and must accept reports arranged by importers from other Authorized Dealers, receiving them directly from the concerned institutions.
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