FEPD Circular No. 21: Inclusion of Export Registration Certification No. for EDF Loans

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Web site: www.bb.org.bd FE Circular No.21 Date: November 14, 2011 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Inclusion of Export Registration Certification (ERC) No. of direct/ deemed Exporter for loan from Export Development Fund (EDF) Attention of Authorized Dealers (ADs) is invited to FE Circular No, 25, dated December 22, 2009 regarding operational procedure of Export Development Fund (EDF). For operational purpose, ADs are advised for mandatory inclusion of valid ERC No. and date thereof of the direct/deemed exporter along with their name in the relevant columns of Form-A, B and C as annexed in the circular stated above while applying for loan from EDF and reporting the transactions to Bangladesh Bank. As such, the forms are amended and attached herewith.

Other instructions of the circular shall remain unchanged. Please bring the contents of this circular to the notice of all concerned. Yours faithfully, Enclosure: 03 (three) pages (Md. Jahirul Hoque) Deputy General Manager Phone: 7120375

Annexure-I Form-A (Letter head of AD bank) Ref: Date: General Manager Forex Reserve and Treasury Management Department EDF Section Bangladesh Bank Head Office Dhaka. Dear Sir, Application for Loan under EDF In accordance with the procedure set out in Master Circular on Export Development Fund dated December 22, 2009, we hereby apply for the loans from Bangladesh Bank against the advances made by us in foreign currency under the following letters of credit: Sl. No. Name of the direct/ deemed exporter borrowing from the AD ERC No. & Date Import LC/inland back to back LC No. & date Amount in USD Date of negotiation by raising USD loan in the name of the borrower 1 2 3 4 5 6 We confirm that the transactions are eligible for financing under EDF as per terms and conditions stipulated in the aforesaid circular and hold ourselves liable for any falsity or misstatement. We would, therefore, request you to grant the loan and credit USD ……… (in words) to our FC Clearing account maintained with you. We also hereby authorize you to debit our FC Clearing account with you in realization of principal and accrued interest due upon expiry of the permissible tenors of the loans, if not repaid earlier by us.

Yours faithfully, Signature........................ Name:…………………. Designation:...…………. PA No………....……….. Signature........................ Name:…………………. Designation:...…………. PA No………....………..

Annexure-II Form-B Name of the Bank: Address: Calculation Worksheet of Repayment of EDF Loans Sl. No. Name of the direct/de emed exporter borrower ERC No. & Date Date of raising the AD’s USD loan on a/c of the direct/ deemed exporter Date of repatriation/ receipt of proceeds of direct/deemed export EDF Loan to AD Total interest in USD Total amount in USD (Principal + Interest) Drawal date of EDF loan by AD Loan amount in USD Repayment date Duration of the loan Interest rate Total: USD...... USD........... USD........... Signature:........................................................................ Name:.............................................................................. Designation..................................................................... PA No........................................................................... Date:................................................................................

Annexure-III Form-C Name of the Bank: Address: Monthly statement relating to outstanding USD loans to direct/deemed exporters against which EDF Loan has been drawn from BB (As of end ………………..20….) Sl. No. Particulars of procurements by direct/deemed exporters against which USD loan was raised by AD Particulars of LC/Contract for the final export Particulars of inland back to back LC for deemed export Amount and date of AD’s loan to direct/ deemed exporters Amount and date of EDF loan to AD Import LC/ Inland back to back LC No. & date Value Expiry Date Name of input items imported/ procured Name of the direct exporter ERC No. & Date LC/ Contract No. & date Value Expiry date Name of the deemed exporter ERC No. & Date Inland back to back LC No. & date Value Expiry date Signature:.............................................................. Name:.................................................................... Designation............................................................ PA No.................................................................... Date:......................................................................