Regulatory Alerts2012-07-22
Added · Updated
FEPD Circular No. 07 : Inward Remittance --Declaration on Form C
The requirement for declaration on Form C for inward remittances is waived for amounts up to US$ 5000 or equivalent foreign currencies. This exemption applies to all inward remittances, including those sent by Bangladesh nationals working abroad, replacing the previous threshold of US$ 2000. Instructions contained in paragraph 10, chapter 5 of the Guidelines for Foreign Exchange Transactions (GFET)-2009, Vol-1 remain unchanged except for this threshold adjustment.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Web site: www.bb.org.bd FE Circular No. 07 Date: July 22, 2012 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Inward Remittance – Declaration on Form C Attention of the Authorized Dealers (ADs) is invited to the paragraph 10, chapter 5 of the Guidelines for Foreign Exchange Transactions (GFET)-2009, Vol-1 in terms of which declaration on Form C is required against inward remittances (other than remittances sent by Bangladesh nationals working abroad) equivalent to US$ 2000 and above. 02. It has now been decided that declaration on Form C shall not be required for inward remittance upto US$ 5000 or equivalent other foreign currencies. Other instructions contained in the above stated paragraph of GFET-2009 shall remain unchanged. Please bring the content of this circular to the notice of all concerned. (Md. Golam Haider) Deputy General Manager Phone: 9530092
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