FEPD Circular No. 33: Cash incentive against export of leather and leather goods

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka
Ref. No. FEPD Circular No. 33 Date: ------------------

Managing Director/Chief Executive Officer
All Scheduled Banks Operating in Bangladesh

Dear Sir,

Regarding cash incentive against export of leather and leather goods against advance export value received.

With reference to FEPD Circular No. 05 dated May 04, 2011, issued on the subject matter, it is informed that sub-paragraph (g) of the aforementioned circular has been amended as follows regarding the payment of cash incentive against export of leather and leather goods against advance export value received via TT:

''(g) The foreign exchange value of the specific export must be repatriated from the country to which the goods are exported. Furthermore, even if the export value is repatriated from a different country, cash incentive shall be provided subject to compliance with the following percentages:
1) It must be ensured that the export value is received from the party issuing the export order or from a source having a specified business relationship with the party issuing the export order (excluding exchange houses);
2) It must be ensured with the concerned bank regarding the export of the goods prior to processing the application for cash incentive, through an approved tracking system/Exporter General Manifest by Customs, and the said information (printed copy) must be attached with the application form.''

2. The instructions mentioned above shall be effective in the matter of providing cash incentive against shipped goods from the date of issuance of this circular. This circular shall not apply to any pending matter or to reach a decision on any matter where there is an audit objection.

All concerned parties are requested to be informed about the matter.

Yours faithfully,
(Md. Harun-ur-Rashid)
Director (FEPD)
Phone: 9530123
27 Agrahayan 1431
November 27, 2024