FEPD Circular No. 11: Regarding to open LC on 90 Days deferred payment basis under commercial IRC to import Ophthalmic Medical Equipment including Intraocular Lens

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka-1000.
Ref. No. FEPD.Circular
25 Branch, 1425
FEPD Circular No.-11 Date: -------------------- 08 May, 2018 To All Approved Dealer Banks engaged in Foreign Exchange Transactions Head Office / Principal Office.

Dear Sir,

Regarding the establishment of Letter of Credit for importing goods under deferred payment basis under Commercial IRC.

Attention is drawn to Section 33(A)(5) of Chapter-7 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Volume-1, where approved dealer banks have been authorized to establish letters of credit for the import of life-saving drugs (declared/approved by the Drug Administration) on a 90-day deferred payment basis.

2. It has now been decided that letters of credit can be established on a 90-day deferred payment basis under commercial basis for the import of essential ophthalmic medical equipment including Intraocular Lens.

3. This directive will take immediate effect and kindly inform all concerned about this matter.

Yours faithfully,
(Md. Abdul Mannan)
Deputy General Manager
Phone: 9530319