Regulatory Alerts2024-11-11
Added
FEPD Circular No. 29: Import transactions under usance terms
Authorized Dealers in Foreign Exchange in Bangladesh are permitted to allow imports of rice, wheat, onion, pulse, edible oil, sugar, egg, chickpea, pea, spices, and dates on usance terms for up to 90 days under supplier’s or buyer’s credit. This authorization is effective until March 31, 2025. Other relevant instructions regarding these transactions remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No.29 Date: November 11, 2024 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Import transactions under usance terms. Please refer to paragraph 33(a), Chapter 7 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Vol-1 and its subsequent circulars in terms of which specified items are permissible for import on deferred payment/usance basis. 02. In order to maintain the price at reasonable level and smooth supply of necessary food items during the holy month of Ramadan, it has been decided to allow import of rice, wheat, onion, pulse, edible oil, sugar, egg, chickpea, pea, spices and dates on usance terms on upto 90 days under supplier’s/buyer’s credit. Other relevant instructions in this regard shall remain unchanged. Please bring the contents of the circular, effective till March 31, 2025, to the notice of your relevant clientele. Yours faithfully, (Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123