FEPD Circular No. 30: Consideration of applications for export subsidies/cash incentives during unrealized period of export proceeds

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Bhadra 01, 1424 FEP Circular No.-30 Date: ------------------- August 16, 2017 To: All Authorized Dealers of Foreign Exchange Transactions.

Dear Sir,

Regarding consideration of applications for export subsidies/cash incentives when export proceeds remain unrealized.

Reference is drawn to your attention regarding the subject matter mentioned above. It is informed that, in accordance with government decisions, subject to compliance with the instructions mentioned in the referenced FEP Circular, if an exporter's institution has unrealized export proceeds (fully or partially) for justified reasons in the past 2 (two) years from the date of submission of the application for export subsidies/cash incentives, the submitted application will not be acceptable. However, prior to processing the submitted application, approval from the Bangladesh Bank or the Discount Committee regarding the repatriation/regularization of the said unrealized export proceeds must be obtained.

In light of the above decision, the instructions mentioned in FEP Circular No. 30, dated November 11, 2001, and FEP Circular No. 31, dated December 27, 2001, issued on this matter, shall be considered amended.

All concerned parties are requested to take note of this matter.

Yours faithfully,

(Md. Abdul Mannan) Deputy General Manager Phone: 9530319