Regulatory Alerts2020-03-24
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FEPD Circular No. 17: Extension of usance period for import of life saving drugs
The circular amends the usance period for importing life-saving drugs from 90 days to a maximum of 180 days, allowing Authorized Dealers to extend payment terms based on client needs. This change applies to imports governed by the Guidelines for Foreign Exchange Transactions-2018 and remains effective until September 30, 2020. All other instructions regarding import trade remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 17 Date: 24 March 2020 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Import of life saving drug–extension of usance period. Please refer to paragraph 33(a)(v), chapter 7 of the Guidelines for Foreign Exchange Transactions-2018 (GFET) in terms of which import of life saving drugs is permissible on upto 90 days usance basis. 02. With a view to minimizing COVID-19 pandemic related disruptions to imports of life saving drugs, it has been decided to allow the Authorized Dealers to extend the usance periods upto maximum of 180 days instead of current 90 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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