FEPD Circular No. 32: Submission of documents in support of import payments in advance, phase-out

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No.32 Date: November 19, 2024 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Submission of documents in support of import payments in advance, phase-out Please refer to paragraph 27(iii), chapter 7 of the Guidelines for Foreign Exchange Transactions-2018, Vol-1 (GFET) in terms of which Authorized Dealers (ADs) are required to submit relevant documents in support of import payments in advance. 02. To rationalize transactions formalities, it has been decided that ADs are no longer required to submit documents as per aforementioned instructions. ADs shall preserve the documents electronically and in paper for the inspection as and when required by Bangladesh Bank. Accordingly, relevant instruction at paragraph 27(iii), chapter 7 of GFET shall stand amended. You are advised to bring the contents of this circular, effective immediately, to all your AD bank branches and central trade processing centers for compliance. Yours faithfully, (Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123