Regulatory Alerts2022-11-16
Added
FEPD Circular No. 32: Extension of usance period against imports of industrial raw materials
The usance period for imports of industrial raw materials, including back-to-back imports, and imports of agricultural implements and chemical fertilizers under supplier’s or buyer’s credit is extended until June 30, 2023. This extension applies to the policy supports previously contained in FE Circular No. 18 dated July 20, 2022, which increased the usance period to 360 days. The extended usance period remains inapplicable for imports under EDF loans, and all other relevant instructions remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 32 Date: November 16, 2022 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Extension of usance period against imports of industrial raw materials Please refer to FE Circular No. 18, dated July 20, 2022 regarding extension of usance period to 360 days from 180 days for imports of industrial raw materials including back to back imports, and imports of agricultural implements and chemical fertilizers under supplier’s/buyer’s credit as per paragraph 33(a)(ii) and 33(a)(iv), chapter 7 of the Guidelines for Foreign Exchange Transactions-2018, Vol.-1. 02. Given the ongoing situation, it has been decided to extend the policy supports contained in FE Circular No. 18/2022 till June 30, 2023. As usual, the extended usance period will not be applicable for imports under EDF loans. Other relevant instructions shall remain unchanged. ADs are advised to bring the contents of this circular to the notice of their customers. Yours faithfully, (Md Sarwar Hossain) Director (FEPD) Phone: 9530123