Regulatory Alerts2014-06-24
Added · Updated
FEPD Circular No. 26: Export Development Fund (EDF)
The maximum single borrower limit for loans from the Export Development Fund is increased from USD 12.00 million to USD 15.00 million. This enhanced limit applies to manufacturer-exporters and member mills of BTMA, BGMEA, and BKMEA. The borrowing remains subject to the condition of providing foreign currency financing for input procurement against an export LC, firm export contract, or inland back to back LC. Other instructions from FE Circular No. 25 and subsequent circulars remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No.26 Date: 24 June, 2014 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Export Development Fund (EDF) Please refer to paragraph 5 of FE Circular No. 25, dated December 22, 2009 read with FE Circular No. 13, dated October 10, 2013 in terms of which an Authorized Dealer may borrow maximum USD 12.00 million loan from EDF against their foreign currency financing of input procurement for a manufacturer-exporter against an export LC/firm export contract/inland back to back LC. This maximum borrowing limit is also admissible for a member mill of BTMA making bulk import of raw cotton and other fibres against local deliveries of yarn to manufacturer-exporters through inland back to back LCs in foreign exchange. 02. It has now been decided to enhance the existing limit of USD 12.00 million to USD 15.00 million as a maximum single borrower limit for manufacturerexporter/BTMA mill including BGMEA/BKMEA mill.
Other instructions contained in FE Circular No. 25, dated December 22, 2009 and relevant instructions of subsequent circulars shall remain unchanged. Yours faithfully, (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250
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