Regulatory Alerts2019-08-22
Added · Updated
FEPD Circular No. 32: Working capital loans from abroad by foreign owned/controlled companies
Foreign owned/controlled industrial enterprises engaged in manufacturing activities in Bangladesh are now permitted to pay interest on short-term loans from parent companies or shareholders abroad in their home currency. Interest on the Taka proceeds must be payable in Taka at the prevailing 3-month term deposit rate applicable by the Authorized Dealer on the date of loan encashment. Repayment of principal and accrued interest is repatriable after conversion into the sourced currency at the prevailing exchange rate, subject to applicable taxes and duties. This facility is admissible for a maximum of three years from the inception of manufacturing activities and may be renewed within that period.
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