Regulatory Alerts2018-05-08
Added · Updated
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
The document authorizes approved dealer banks to establish letters of credit on a 90-day deferred payment basis under commercial Import Release Certificates for the import of essential ophthalmic medical equipment, including intraocular lenses. This directive amends previous guidelines by extending the permitted deferred payment facility to these specific medical imports. The instruction takes immediate effect and requires all concerned parties to be informed.
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.
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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.
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This directive will take immediate effect and kindly inform all concerned about this matter.
Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319
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