Regulatory Alerts2024-11-12
Added
FEPD Circular No. 30: Timely Settlement of Import Payments
Authorized Dealers in Bangladesh must strictly adhere to a payment behavior framework requiring appropriate credit lines before issuing letters of credit and ensuring adequate cashflows for LCs issued without underlying facilities. Usance imports must be financed through buyer's credit by offshore banking operations or the Authorized Dealer's own funds. Overdue import payments are no longer acceptable, and failure to settle payments on time subjects responsible officials to punitive actions and personal accountability.
Topics
fx
credit
Share