FEPD Circular No. 12: Time limit for submission of application for Export Subsidy/Cash Incentive in Textile and others related sectors

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Ref. No. FEPD Circular No. 12 Date: ----------------- December 20, 2012

To: All Approved Dealers engaged in foreign exchange transactions.

Subject: Time limit for submission of application for Export Subsidy/Cash Incentive in Textile and other applicable sectors.

With reference to the subject cited above, it is brought to the notice of all concerned that, as stipulated in the aforementioned FEPD Circulars, applications for export subsidies/cash incentives in the textile sector and other applicable sectors must be submitted to the respective Approved Dealer bank branch within 180 days from the date of valuation of export proceeds in the Nostro account of the relevant bank abroad.

2. It has been decided that, alongside submitting the application within 180 days from the date of realization of value against different shipments under an Export Letter of Credit (or Export Contract where applicable), the application for export subsidy/cash incentive may also be submitted collectively within 180 days from the date of realization of the total export proceeds after the completion of the entire export process.

The relevant instructions contained in the respective circulars/circular letters regarding the payment of export subsidy/cash incentive shall remain unchanged.

Yours faithfully, (Mohammad Golam Haider) Deputy General Manager Phone: 9530092