Regulatory Alerts2014-08-24
Added · Updated
FEPD Circular No. 31: External financing for imports (buyers'/suppliers' credit) : orderly repayment
The exemption from quarterly installment repayment for eligible deferred payment imports with a tenure of up to six months now applies regardless of import value for bulk shipments of specific unprocessed or crude food items. This change affects unrefined edible oil and oil seeds imported by refiners or millers, crude sugar imported by refiners, and unground wheat imported by flour mills. Authorized Dealers of Foreign Exchange in Bangladesh are instructed to inform their concerned constituents of this update.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 31 Date: August 24, 2014 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, External financing for imports (buyers’/suppliers’ credit) : orderly repayment Please refer to FE Circular No. 22, dated June 01, 2014 and FE Circular No. 27, dated July 01, 2014 respectively on the captioned subject. FE Circular No. 27, dated July 01, 2014 exempted eligible deferred payment imports of up to 6 month tenure and up to USD 1.00 million in value from installment repayment on quarterly basis. It has since been decided that the exemption from quarterly installment repayment will apply regardless of import value in case of deferred payment imports of up to 6 month term in bulk for the following unprocessed/crude food items: (a) unrefined edible oil and oil seeds imports by refiners/millers, (b) crude sugar imports by refiners and (c) unground (whole) wheat imports by flour mills.
Please inform all your concerned constituents accordingly.
Yours faithfully, (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250
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