Regulatory Alerts2017-04-02
Added · Updated
FEPD Circular No. 12: Declaration on Form-C for inward remittance on account of ICT related services
Authorized Dealers must require a separate Form-C declaration for inward remittances related to ICT services exceeding USD 10,000 or equivalent. For remittances up to USD 10,000, Authorized Dealers must verify the bona fide nature of transactions using SWIFT message notations or by contacting beneficiaries via email if the purpose is unavailable. Authorized Dealers are instructed to guide customers to properly specify the purpose of remittance to ensure accurate codification and reporting to Bangladesh Bank.
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