Regulatory Alerts2018-11-08
Added · Updated
FEPD Circular No. 31: Issuance of guarantee on behalf of non-residents in favor of residents in Bangladesh
Authorized Dealers may now issue guarantees, bid bonds, or performance bonds in foreign currency or equivalent Taka in favor of residents against remittances credited to their nostro accounts by non-resident applicants. Authorized Dealers must retain the foreign currency in a margin account of the non-resident firm, remit it upon release of the guarantee, and close the account immediately after remittance. If a foreign currency guarantee is invoked, the claim must be settled in equivalent Taka, reported as an inward remittance, and the margin account closed.
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