FEPD Circular No. 20: Payments through Asian Clearing Union (ACU)

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FEPD Circular No. 20 Date: 27 July, 2016 All Authorized Dealers of Foreign Exchange in Bangladesh. Dear Sirs, Attention of the Authorised Dealers (ADs) is invited to the Para No. 2, Chapter 3 of the Guidelines for Foreign Exchange Transactions (GFET) 2009 (Vol-1) regarding instructions for payment settlement through ACU mechanism in either 'ACU Dollar' or in 'ACU Euro'. Payments through Asian Clearing Union (ACU) 2. As the payment channel for processing 'ACU Euro' transactions has been suspended by some correspondents, Authorised Dealers are advised to suspend operations in 'ACU Euro' temporarily. Accordingly, all eligible current account transactions in 'ACU Euro' are permitted to be settled outside the ACU mechanism until further notice. Instructions of this circular will come into effect immediately. Please bring the contents of this circular to the notice of all concerned. Yours faithfully, (Jagannath Chandra Ghosh) Deputy General Manager Phone: 9530092