Regulatory Alerts2020-03-23
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FEPD Circular No. 16: Import of industrial raw materials-extension of usance period
Authorized Dealers in Foreign Exchange in Bangladesh are permitted to extend the usance period for imports of industrial raw materials by industrial importers for own use from 180 days to a maximum of 360 days. This extension applies based on the actual needs of the concerned clients and is effective until September 30, 2020. Other instructions regarding import trade remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 16 Date: 23 March 2020 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Import of industrial raw materials – extension of usance period. Please refer to paragraph 33(a)(ii), chapter 7 of the Guidelines for Foreign Exchange Transactions-2018 (GFET) in terms of which import of industrial raw materials by industrial importers for own use is permissible on upto 180 days usance basis. 02. With a view to minimizing COVID-19 pandemic related disruptions to input imports by industrial importers, it has been decided to allow the Authorized Dealers to extend the usance periods upto a maximum of 360 days instead of current 180 days depending on the actual needs of their concerned clients. Other instructions with regards to import trade shall remain unchanged. Please bring the contents of this circular, applicable till September 30, 2020, to the notice of all your concerned clientele. Yours faithfully, (Mohammad Khurshid Wahab) General Manager Phone: 9530123
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