FEPD Circular No. 33: Foreign Exchange Regulations regarding Import Transactions

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular No. 33 Date: August 14, 2025
All Authorized Dealers in
Foreign Exchange in Bangladesh
Dear Sirs,
Foreign Exchange Regulations regarding import transactions Foreign exchange transactions in import trade are regulated by the Foreign Exchange Regulation (FER) Act 1947, Guidelines for Foreign Exchange Transactions (GFET)-2018 and subsequent circulars issued thereagainst. To bring ease in conducting import transactions, the existing regulations have been compiled in one place with modifications as necessitated. Accordingly instructions regarding import transactions available in the GFET-2018, Vol-1 and its subsequent circulars will stand repealed with the issuance of this circular excepting monthly reporting instructions contained in GFET-2018, Vol-2.
02. This circular is issued with the authority vested to Bangladesh Bank under section 20(3)
of FER Act, 1947.
03. The instructions of this circular will remain valid for one year from the date of its
issuance. However, instructions to be issued within this period will be read with this circular. Please bring the contents of this circular to the notice of your constituents. Yours faithfully, Encl. As stated. (Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123

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Contents
Part-A: IMPORT TRADE

Introduction………………………………………………………………………………………….. 1
Foreign exchange regulation………………………………………………………………………… 1
International trade rules……………………………………………………………………………... 1
Registration………………………………………………………………………………………….. 1
Online reporting……………………………………………………………………………………... 1
Online reporting for large import…………………………………………………………………… 2
Import regulatory framework……………………………………………………………………….. 2
IMP Form……………………………………………………………………………………………. 2
Dealing with known customers……………………………………………………………………... 3
Terms of imports……………………………………………………………………………………. 3
Imports under special arrangements………………………………………………………………… 3
Use of correct HS Code……………………………………………………………………………... 3
Amounts for relative import and remittances made thereunder……………………………………… 3
Remittance in excess of the value of the relative import……………………………………………. 4
Imports on FOB basis………………………………………………………………………………... 4
Part-B : LC AND REMITTANCES AGAINST IMPORTS
General………………………………………………………………………………………………. 5
LC covering imports…………………………………………………………………………………. 5
Terms on which LCs may be opened………………………………………………………………… 5
Import through land ports…………………………………………………………………………… 5
Period for which LCs may be opened………………………………………………………………… 6
LCs to be opened only against firm contracts………………………………………………………. 6
Approved methods of payment……………………………………………………………………….. 7
Applications for remittances against imports………………………………………………………… 7
Remittance of proceeds of dishonored bill………………………………………………………….. 7
Remittance against discrepant documents/documents received directly by the importers………….. 7
Remittance against goods imported under penalty……………………………………………………. 7
Advance remittance against imports…………………………………………………………………. 7
Application for remittance on IMP Form…………………………………………………………… 8
Submission of the authenticated copies of 'Bill of Entry' and 'Certified Invoices'………………………... 9
Extension of time limit for submission of bill of entry etc. ………………………………………….. 9
Disposal of IMP Forms………………………………………………………………………………. 9
Acceptance of electronic bill of entry……………………………………………………………….. 10
Loss of goods………………………………………………………………………………………... 11
Part-C : IMPORT UNDER CONTRACTS
Imports under purchases/sales contracts without LCs………………………………………………. 12
Part-D : IMPORTS ON SUPPLIYER’S (DEFERRED)/BUYER’S CREDIT
Import on supplier’s credit/deferred payment basis……………………………………………………. 13
Interest rate…………………………………………………………………………………………. 13
Import on buyer’s credit……………………………………………………………………………. 13
Payment against usance bills through purchases…………………………………………………… 14
Reporting on buyer’s credit…………………………………………………………………………. 14
Import on longer terms……………………………………………………………………………… 14
Part-E : PAYMENT BEHAVIOR
Payment of import liability………………………………………………………………………….. 15
Payment behavior framework for timely import payments…………………………………………. 15
Payment of overdue accepted bills (foreign or local) ……………………………………………… 15
Documents to head offices/principal offices………………………………………………………... 15
Submission of statements…………………………………………………………………………… 15

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Part-F : REMITTANCE FOR SOFTWARE IMPORT THROUGH E-DELIVERY AND
OTHER PAYMENTS
46. Remittance against purchase of software through e-delivery……………………………………… 16
47. Payment in foreign currency against local supply of goods under international tender…………… 16
48. Payment of import bills from advance export proceeds retained in foreign currency accounts of
ship builder-exporters………………………………………………………………………………. 16
Part-G : BACK TO BACK LC
49. General………………………………………………………………………………………………. 17
50. Opening of back to back import LC…………………………………………………………………... 17
51. Inland back to back LCs…………………………………………………………………………….. 17
52. Opening LC in local currency……………………………………………………………………….. 18
53. Payment against back to back LCs………………………………………………………………….. 18
54. Stock of inputs procured under back to back LC…………………………………………………… 18
Part-H : RETENTION OF EXPORT PROCEEDS FOR SETTLEMENT OF IMPORT
PAYMENTS
55. Retention of foreign currency in single pool for back to back import payments under bonded warehouse
system………………………………………………………………………………………………… 19
56. Payment of import bills (other than back to back) from direct and deemed export earnings…………... 19
57. Retention of discounted proceeds…………………………………………………………………… 19
Part-I : INLAND LC IN FOREIGN CURRENCIES – OPERATIONAL
MODALITIES
Part-J : IMPORT TRADE FOR SPECIALIZED ZONES
63. Principles and Procedures…………………………………………………………………………… 21
64. Imports by enterprises operating in specialized zones……………………………………………… 21
65. Imports on account of zone enterprises………………………………………………………………… 21
66. Import payments matching with export proceeds…………………………………………………… 21
67. Retention of export proceeds for settlement of import liabilities…………………………………… 22
Part-K : IMPORT OF GOLD, SILVER, JEWELLERY AND CURRENCY NOTES
68. Definition of Gold and Silver………………………………………………………………………. 23
71 Import of gold and silver…………………………………………………………………………… 23
72. Definition of jewellery and precious stones………………………………………………………… 23
73. Import of jewellery and precious stones……………………………………………………………. 23
74. Import of securities…………………………………………………………………………………. 23
75. Import of foreign currency notes and coins………………………………………………………… 23
76. Purchase of foreign currency from digital wallets of incoming tourists/passengers……………….. 25
77. Bringing in jewellery by incoming passengers……………………………………………………… 26
78. Import for jewellery under export scheme…………………………………………………………... 26
Part-L : DEPOSIT OF COUNTERPART FUND IN RESPECT OF IMPORTS UNDER NONPROJECT COMMODITY LOANS/CREDITS/GRANTS
79. Clean documents against LC Counterpart…………………………………………………………... 27
80. Documents against LC received on collection basis/negotiated under reserve due to discrepancy… 27
81. Documents received direct by the ERD or designated banks without opening of LC……………… 27
82. Application of rate of exchange…………………………………………………………………….. 28
83. Penal interest………………………………………………………………………………………… 28

APPENDICES
APPENDIX 1 IMP Form
APPENDIX 2 The area where the importer is resident
APPENDIX 3 ADs should also issue a certificate to the importers
APPENDIX 4 Form of Undertaking.
APPENDIX 5 Bill of entry/customs certified invoice
APPENDIX 6 Monthly summary statement of overdue accepted bills.
APPENDIX 7 Monthly statement of overdue accepted bills -Local payables
APPENDIX 8 Monthly statement of overdue accepted bills -Foreign payables
APPENDIX 9 Monthly statement of overdue accepted bills -Local receivables
APPENDIX 10 Monthly bank-wise summary statement of local overdue accepted
bills.
APPENDIX 11 Payment in foreign currency against local supply of goods under
international tender.
APPENDIX 12 General permission by Bangladesh Bank allowing an incoming
passenger to bring into Bangladesh gold or silver in bullion/ingot
APPENDIX 13 Notification No. FE-1/09-BB dated 4th August, 2009
APPENDIX 14 Notification No. FE-01/2017-BB dated 15th October, 2017
APPENDIX 15 Foreign Exchange Declaration Form (FMJ Form)
APPENDIX 16 Statement of L/Cs opened under loans/credits/grants requiring deposits
of counterpart taka
APPENDIX 17 Statement of discrepant bills received on collection basis
APPENDIX 18 Statement of deposit of counterpart taka funds.

Part-A
IMPORT TRADE

Introduction
Import of goods into Bangladesh is regulated by the Ministry of Commerce in terms of the Import and Export (Control) Act, 1950, through Import Policy Order (IPO) in force and Public Notices issued from time to time by the Office of the Chief Controller of Imports and Exports (CCI&E).
Foreign exchange regulations
In exercise of the powers under Section 5(1) of the Foreign Exchange Regulation (FER) Act, 1947 Taka was declared convertible for current account payments from March, 1994. Within the scope of the declaration, general authorization is given to Authorized Dealer (AD) banks to effect outward remittance against admissible import transactions. AD banks shall conduct foreign exchange transactions on import in conformity with the instructions contained in this circular and to be issued by Bangladesh Bank from time to time in exercise of the powers conferred by Section 20(3) of the Foreign Exchange Regulation Act, 1947. Nothing in the foreign exchange regulations relieves the importers from the necessity of complying with the import trade regulations prescribed by the Government and relevant other regulations of the country such as AML/CFT norms, taxes/customs regulations, etc.
International trade rules
ADs shall observe best practices in accordance with applicable international trade rules such as Uniform Customs and Practice (UCP), Uniform Rules for Collections (URC), Incoterms, etc. ADs are required to follow the rules of prevailing UCP for issuing Letter of Credit (LC) against import trade. While executing admissible import transactions under sales contracts on documentary collection basis, ADs are advised to observe the latest version of URC. For use of incoterms, AD shall consult with the IPO in force. Local regulations will, however, prevail in case of contradiction.
Registration
In terms of the Importers, Exporters and Indentors (Registration) Order, 2023 no person can import goods into Bangladesh unless he/she is registered with the CCI&E or exempted from the provisions of the said Order.
Online reporting
In addition to other reporting requirements to Bangladesh Bank, ADs shall report all types of permissible import transactions to the Online Import Monitoring System (OIMS) of Bangladesh Bank on daily/regular basis. ADs shall also observe the following reporting procedures for relevant import transactions:
(1) Before establishment of LCs or initiation of permissible imports, ADs shall obtain underlying indents, proforma invoices, purchase or sales contracts from relevant importers. (2) For imports on FOB or similar other terms, ADs shall obtain applicable transport charges against the shipments to facilitate issuance of certificate as per paragraph 15 of this circular. (3) ADs shall provide primary import information based on (1) above to the OIMS of Bangladesh Bank. (4) In case of permissible imports without LCs by industrial imports, and commercial imports within authorized limits, ADs shall report to Bangladesh Bank as per (3) above with indication of imports without LCs.
Online reporting for large import
For import value of USD 3.00 million and above or its equivalent, ADs shall report to the OIMS of Bangladesh Bank before 24 hours of opening of LC. The report excludes imports by the Government.
Import regulatory framework
(1) ADs shall, while providing primary information to the OIMS of Bangladesh Bank, be ensured of the import price contracted for import depicting the current market price of the importable goods. (2) Before opening of LC or initiating imports, ADs shall have to take usual and reasonable cautionary measures to ensure that both the exporter and importer are bonafide business persons of the goods concerned, the exporting country is the usual exporter of the goods concerned and the price of the goods concerned is competitive in terms of prevailing price in the international market on the date of contract and/or similar imports in contemporary period. (3) To facilitate the accurate verification of the import price in line with international market rates, the following details need to be clearly mentioned in the Proforma Invoice (PI) sent by foreign exporters or in the indent provided by their local agents regarding the imported goods:
(a) A complete description of the goods, including their quality, brand, production date, packaging information, and grade (if any), through which quality of goods can be differentiated, as well as the unit price and quantity; (b) In cases where multiple products are imported through the same PI, the details of each product should be separately listed, including its description, quality, brand, production date, packaging details, and grade (if any), with unit price and quantity for each; (c) In cases where different types of goods are imported under the same PI, all goods should not be measured in a single unit such as kg, liter, or piece; and each item should be presented in the applicable units based on their nature; (d) Transportation charges should be clearly mentioned in terms of incoterms used for the relevant transactions; (e) To identify the imported goods specifically, the 6-digit HS Code along with the next 2 digits (total of 8 digits) should be mentioned.
IMP Form
(1) Payment against import is subject to declaration by the importer on IMP Form (Appendix-1). The importer should read carefully the instructions contained in the IMP Form and shall declare that:
(a) the applied payment is due and they have not already obtained exchange for payment of (any of) these goods, nor they have made any other application for that purpose, (b) the amount of foreign exchange represents the correct prevailing market price for the goods on the date of contract in country of export, (c) they are neither connected with the exporters abroad directly or indirectly nor they have any financial or other interest in the exporters abroad. The IMP Form needs to be attached with the original customs certified Bill of Entry evidencing the import of the goods which has already been cleared for consumption in Bangladesh. In other case, importer shall undertake to clear the goods for consumption in Bangladesh within four months of the date of the application for

payment and shall, before the expiry of that period, produce to ADs the original customs certified bill of entry covering the above goods. (2) ADs should ensure that the registration number of the importer is invariably furnished on the IMP Form. Where the importer is exempted from such registration, a suitable mention of this fact should be made on the IMP Form. (3) Details of amounts remitted, whether under LC or otherwise, should be endorsed on the relative IMP Form. (4) Before delivering the import documents to the importers, ADs should invariably endorse on the invoices accompanying the bills, the amount both in figures and words that they have remitted from Bangladesh. The endorsement should be under the seal and signature of ADs. In case of payment on deferred/usance basis, the amount for which the bill has been accepted should be endorsed in the invoices.
9. Dealing with known customers
ADs must ensure that they deal only with customers having a place of business in Bangladesh and maintaining accounts with them. They shall also be traceable easily should any occasion arise for this purpose. Initiation of import trade and payments for imports into Bangladesh should be made through an AD in the area where the importer is resident (Appendix-2 lists the areas for foreign exchange regulation purposes). In case the importer is a new customer, AD should obtain certificate from the AD through which the applicant imported earlier to the effect that no bill of entry is overdue for submission by the importer. The same should be duly verified by the AD through the OIMS of Bangladesh Bank and recorded accordingly.
10. Terms of imports
Appropriate Incoterms should be incorporated in the letter of credit/purchase contract in compliance with the IPO in force. Import shall usually be made on CFR/CPT basis (as the case may be). However, import on FOB basis shall be subject to the provisions mentioned in paragraph 15 of this circular.
11. Imports under special arrangements
Specific procedural instructions regarding imports under special arrangements or agreements (grants, loans, barters etc.) issued by Bangladesh Bank from time to time should be followed by ADs.
12. Use of correct HS Code
It is mandatory to use correct HS Code to indicate the classification of goods to be imported, as per First Schedule of the Customs Act. No bank shall initiate import transactions without quoting correct HS Code in the LC or purchase contract/PI (as the case may be). Failure to do so may lead to imposition of penalties by the Customs Authority. In all cases of doubt, reference should be made either by ADs or the customer direct to the concerned the Customs Authority.
13. Amounts for relative import and remittances made thereunder
(1) The aggregate amount of foreign exchange sold against an import whether under LC or otherwise, should not exceed the value mentioned in underlying documents, In case where import was initiated and remittance is needed in a floating currency against which no forward booking has been made, the Taka value of the amount shall be deemed to have been increased to

the extent of appreciation of the foreign currency for the purpose of allowing remittance by ADs. (2) Applicable exchange rate on retirement of import bill: Import bill, unless forward cover has been taken, shall be retired at the rate of exchange prevailing on the date of lodgment in the book of ADs.
14. Remittance in excess of the value of the relative import
(1) Remittance in excess of the value of the relative import is not permissible without prior approval of Bangladesh Bank except for payment of normal bank charges of the foreign correspondents. In other words, ADs need not adjust the amount of bank charges from the import value. Remittances of bank charges should be reported to Bangladesh Bank as usual with TM forms and necessary supporting documents. ADs shall endorse the amount of bank charges remitted along with the date of remittance on the back of the IMP Form. They should also quote the approval number and date, if remittance is effected against any specific approval from Bangladesh Bank. (2) Bank charges of unusual nature i.e., not commonly attributable to transactions against LCs cannot be remitted without Bangladesh Bank's approval. Foreign bank charges in respect of imports in the public sector shall be on the suppliers account and, hence, cannot be remitted from Bangladesh. Bank charges under barter/special trade arrangements (STA) shall be payable in accordance with the relevant provisions therein.
15. Imports on FOB basis
In case of import on FOB basis, AD banks may at the request of their importer clients make payments of freight/transportation charges in Taka or in equivalent foreign exchange to shipping companies/airlines/eligible licensed freight forwarders, out of the total import value covering costs of goods and transportation charges. The receipts in foreign exchange will be deposited in foreign currency accounts maintained by the shipping companies /airlines/eligible licensed freight forwarders for settlement of overseas payments as per relevant instructions in this regard. In case of FOB imports, AD should endorse, beside FOB value, the transportation charges payable in foreign currency or in equivalent Taka as indicated in the bill of lading, etc. along with miscellaneous charges, if any, as indicated in the airway bill. ADs should also issue a certificate to the importers in the form given in Appendix-3 to the effect that the amount of transportation charges etc. has been endorsed on the relative import. The issue of this certificate is essential as the shipping companies/airlines, etc. are under instructions not to accept payment of freight in Taka or foreign currency unless the above mentioned certificate is produced to them. Moreover, ADs shall not deposit the amount in their foreign currency accounts designated for outward payment on account of surplus earnings/foreign liabilities without this certificate. However, payment of transportation charges against FOB import through chartered ship is subject to compliance of relevant instructions. In cases where the FOB value and the amount of transportation charges payable in Taka or foreign currency exceeds the value of the relative import, the application should be referred to Bangladesh Bank for consideration with full particulars and supporting documentary evidence.

Part-B
LC AND REMITTANCES AGAINST IMPORTS
16. General
ADs may issue, advise, notify or confirm any LC, authority to purchase, guarantee or similar undertaking covering imports into Bangladesh the implementation of which would involve a payment in Taka to a non resident account or a payment in foreign currency in accordance with the instructions prescribed hereunder.
17. LC covering imports
ADs should establish LCs against specific authorization only on behalf of their own customers who maintain accounts with them and are known to be participating in the trade. Payments in retirement of the bills drawn under LCs must be received by ADs by debit to the account of the concerned customer or by means of a crossed cheque drawn on the drawee's other bank. These restrictions shall not apply to import of articles for the private use of the importer as permitted in the IPO in force.
18. Terms on which LCs may be opened
(1) Documentary Credits: All LCs and similar undertakings covering imports into Bangladesh must be documentary LCs and should provide for payment to be made against full sets of onboard (shipped) bills of lading, air way bill, railway receipts, truck receipts, post/courier parcel receipts showing despatch of goods covered by the credit to a destination in Bangladesh. All LCs must specify submission of signed invoices and certificates of origin. If any particular import requires submission of any other document or the remittance of exchange at certain periodical intervals or in any other manner, the LC should incorporate those instructions. (2) Screening of underlying import shipments: ADs should, at their own discretion, conduct the tracking of shipments for relevant import transactions through vessel/container tracking system recognized by competent authority (3) LCs requiring prior permission: It is not permissible to open clean or revolving or standby letter of credits or LC with realization clause (except EPZ/EZ/HTP companies). Applications for opening such LCs should be referred to Bangladesh Bank with full particulars. (4) Transferable LCs: ADs may open transferable LCs for imports into Bangladesh. They may also allow without reference to Bangladesh Bank amendments that do not violate foreign exchange regulations and the IPO in force. (5) Opening of LCs for imports from countries banned by the competent authority: It is not permissible to open import LCs in favor of beneficiaries in countries from which imports into Bangladesh are banned by the competent authority.
19. Import through land ports
For import through land ports, following instructions are to be followed by ADs:
(1) only one port of entry (land port) is to be mentioned specifically in the LC/purchase contract (as the case may be); (2) specimen signatures of the officials working in the import-export desks of the concerned AD bank, contact phone and fax nos. of ADs are to be sent to all the land ports

(3) ADs may follow usual procedure to match import payment with bill of entry as per stipulation of paragraph 32 of this circular. This procedure shall be applicable only for those land custom houses using electronic system (ASYCUDA) for import clearance. (4) LCs/purchase contracts shall contain inter alia the following payment terms instead of reimbursement authority/debit authority:
"Upon receipt of documents complying with credit terms, we shall effect payment as per instructions of Negotiating Bank/Collecting Bank". (5) LC covering value more than USD 5000 (more than USD 10,000 in case of coal import) or equivalent should be sent through SWIFT or other similar arrangements to the advising bank; (6) NOC (if any) shall contain name of the officials along with P.A. nos. and official seal.
20. Period for which LCs may be opened
LC covering import of goods into Bangladesh should be opened within the period, if any, prescribed in the IPO in force.
21. LCs to be opened only against firm contracts
(1) ADs should, before opening an LC, see documentary evidence that a firm order for the goods to be imported has been placed and accepted. While opening an LC, ADs should ensure that full description of the goods to be imported are given in each credit alongwith the unit price of the merchandise. (2) Credit Reports of the foreign suppliers (a) ADs should also obtain confidential report on the exporters from their branches or correspondents abroad or in their discretion, satisfy themselves as to the standing of the exporter by consulting standard books of reference issued by international credit rating agencies acceptable to ADs in all cases where the amount of LC/contract exceeds USD 30,000 (Thirty thousand) against proforma invoices issued directly by foreign suppliers and USD 40,000 (Forty thousand) against indents issued by local agents of the foreign suppliers. In respect of indents from local agents, ADs need to satisfy themselves that the respective agents are regular in repatriation of commission income through the information from importers. In case of own customers, ADs shall check their own records for satisfaction. (b) Head Offices/ Principal Offices of all ADs shall maintain a central database of collected reports and allow their ADs to use the relevant credit reports of the foreign suppliers stored in the said database. Such reports should be obtained by ADs themselves and the reports if submitted by the importers should not be accepted. ADs may also, at their discretion and in their own interest, verify the standing of the beneficiaries even in cases where the value of the credit is lower than the limits mentioned above. Credit report may remain valid for a period of maximum twelve months from the date of issuance if no adverse report comes to the notice of ADs. Moreover, credit report of the same supplier collected for one importer may be used for other importers within the same validity. (c) ADs shall obtain the credit report for a supplier during the period of its validity. In no way, ADs are allowed to remit more than one time as collection cost for the credit report. During the validity, ADs shall use the report for all their importers importing from the same supplier. Depending on its usability, ADs shall set reasonable service charges attributable to respective

importers. In addition, ADs shall accept credit report arranged by importers from other ADs. In this case, ADs need to receive the reports directly from other ADs concerned.
22. Approved methods of payment
LC may be established providing for payment to the country of origin of goods or any other country except those countries imports from which are prohibited. The LC may provide for payment or reimbursement in any freely convertible foreign currency including Chinese Yuan (CNY), in the currency of the country of the beneficiary or of the country of origin/shipment of goods, or by way of credit to the non resident Taka account of the concerned bank abroad. Payments for imports under barter agreements or under foreign loans/grants can be made only in the manner specified for the concerned barter/loan/grant.
23. Applications for remittances against imports
ADs may approve on behalf of Bangladesh Bank remittance against imports into Bangladesh provided the conditions set out in Part-A and elsewhere in this circular are complied with and provided also that the documents covering the import, whether under LC or otherwise, are received through ADs concerned. In case of import by post/courier, ADs may make remittance without prior approval of Bangladesh Bank only if the parcel is addressed directly to ADs. Where the parcel is addressed to an individual care of ADs/to the individual direct, prior approval of Bangladesh Bank should be applied for.
24. Remittance of proceeds of dishonored bill
An AD should not remit the proceeds of bills in cases where the name of the importer on the bill of exchange differs from the information available in Bangladesh Bank online reporting system. Where goods are imported under documentary collection (DP or DA) basis or even under LC and the original drawee dishonors the bill and the foreign shipper or his local agent finds another buyer for the goods, ADs may make the remittance with prior permission of Bangladesh Bank provided that the goods have been released from the Customs Authority evidenced by bill of entry.
25. Remittance against discrepant documents/documents received directly by the importers
(1) ADs may consider discrepant import bills, waived by importers under reasonable grounds acceptable to ADs, as eligible for payments provided that such waivers will not result in material changes as outlined in paragraph 31(3) of this circular. (2) ADs shall conduct due diligence before issuance of shipping guarantees/airway releases/delivery orders, for the release of respective goods, against 'copy documents' received directly by importers so that there creates no question to raise discrepancies on original documents.
26. Remittance against goods imported under penalty
An AD may not make remittance in payment of goods imported under penalty. All applications for remittances of foreign exchange covering such imports should be submitted to Bangladesh Bank for prior approval and should be accompanied by the attested copy of the Customs Bill of Entry for consumption in Bangladesh, the relative penalty order together with full particulars of relevant circumstances.
27. Advance remittance against imports
Advance remittance for permissible imports of goods and services into Bangladesh may be effected

by ADs without prior approval of Bangladesh Bank, against applications from the importers submitted with signed undertaking in the format of Appendix-4 provided that:
(1) the purchase contract with supplier specifically requires advance payment; (2) the supplier furnishes repayment guarantee acceptable to ADs from a bank abroad, to be invoked for refund of the amount paid in advance in the event of the supplier's default in delivering the goods or services as per contract. Such guarantee need not however be insisted upon in cases of advance payments up to USD 10,000 for import of all permissible imports subject to compliance of the following instructions:
(a) ADs shall have to be ensured that the applicant-importers do not have bill of entry/customs certified invoice pending for submission beyond the stipulated period of four months (or such extension as permitted by Bangladesh Bank) against any earlier remittance for imports; (b) ADs shall have to be satisfied that repayment guarantee is not obtainable from the suppliers against the remittances to be made in advance; (c) ADs shall, at their own responsibility, have to arrange for repatriation of the remittances made in advance in case the entry of goods into the country is not effected within the stipulated time; (d) The IPO in force shall have to be meticulously followed; (e) Before effecting the advance payment, ADs shall obtain Form of Undertaking (Appendix-4) duly filled in and signed by the importer. (3) Advance payments against permissible imports may also be executed directly by external financiers and/or offshore banking operations of scheduled banks, subject to repayment guarantees irrespective of amount acceptable to ADs received from banks abroad and compliance of other relevant instructions contained herein. In this context, ADs shall observe extended due diligence with regard to the transactions including KYC and AML/CFT standards. ADs shall also satisfy themselves regarding the enforceability of repayment guarantees. (4) Requests for advance remittance where the suppliers are unwilling or unable to furnish the repayment bank guarantee referred to at paragraph 27(2)(b) may be forwarded by ADs, along with their recommendations, for specific decision of Foreign Exchange Policy Department, Bangladesh Bank on merit of each case. (5) ADs shall report to Bangladesh Bank the cases where the goods/services against advance payments are not received in Bangladesh within due time. (6) In addition to usual reporting to Bangladesh Bank, ADs shall preserve (i) undertaking (as per
Appendix-4) (ii) repayment bank guarantee provided by bank abroad (iii) credit report of the
guarantee providing bank abroad for the inspection as and when required by Bangladesh Bank, Head Office mentioning the probable date of import of goods/services. However, advance payment for import from Exporters’ Retention Quota (ERQ) account may be done as per paragraph 77(4) of FE Circular 31, dated July 31, 2025.
28. Application for remittance on IMP Form
(1) IMP Form for private imports: All applications for payments against imports into Bangladesh (including imports from EPZs/PEPZs/EZs/HTPs) should be made on IMP Forms. The IMP Form must be submitted by the importer or his duly authorized representative. In cases where empowered to approve the remittances on behalf of Bangladesh Bank, ADs shall endorse its approval on the reverse of the IMP Form in the space provided for the purpose. In other cases,

ADs shall submit the IMP Form together with required supporting documents to Bangladesh Bank for approval. (2) IMP Form for Government imports: ADs should mark with a bold letter "G" on the IMP Form for remittance against an import in the name of a Government department or office for which LCs are opened by ADs.
29. Submission of the authenticated copies of 'Bill of Entry' and 'Certified Invoices'
(1) Time for submission from date of remittance: In all cases of remittances for imports into Bangladesh, the importer must submit within 4 months from the dates of remittances the relevant authenticated copy of the customs bill of entry. In case of import by post/courier, the importer must submit the invoice certified by the Customs Authority in lieu of the authenticated copy of the bill of entry. Where the value of an import by post/courier is less than GBP 5 or its equivalent in other foreign currency, the Customs Authority will issue a certificate instead of certifying the invoices. In such cases, the certificate may be submitted in place of the certified invoices. (2) Bill of entry against import on supplier’s credit (usance/DA) term: In case of import on supplier’s credit (usance/DA) term, the prescribed period of four month for submission of bill of entry will be calculated from the date of acceptance of import documents. (3) Bill of entry against import on buyer’s credit/external credit: In case of import under buyer’s credit/external credit, the period of submission of documentary evidence in support of imports i.e. bill of entry will be four months from the date of acceptance of import documents.
30. Extension of time limit for submission of bill of entry etc.
Applications for extension of the time limit beyond four months in cases of genuine difficulties, such as delay in the arrival of the ship or difficulties in clearing the goods already landed at a port in Bangladesh etc. shall have to be forwarded to Foreign Exchange Operation Department (FEOD), Bangladesh Bank, Head Office or other offices for consideration mentioning clearly the concerned IMP Form No. & LC/contract no. (as reported to the OIMS).
31. Disposal of IMP Forms
(1) To effect remittance against import, ADs shall endorse the approval on the reverse of the IMP Form in the space provided for the purpose. Immediately after import payment, ADs shall make report to the OIMS of Bangladesh Bank. Besides, import payment shall be reported in usual monthly returns to Bangladesh Bank without attachment of IMP Form. ADs shall continue to hold IMP Form until the customs certified bill of entry is received. During this stage of nonreceipt of customs certified bill of entry, ADs shall, on demand, submit the IMP Form and full set of import documents to Bangladesh Bank. (2) When the authenticated copy of the bill of entry/customs certified invoice evidencing entry of goods into Bangladesh, is submitted by the importer, the particulars therein should be matched and checked with those in the IMP Form and invoice filed earlier to see if the merchandise for which remittance was made has been duly received in Bangladesh. ADs shall report the same to the OIMS after necessary verification. If no material discrepancy is detected, the case should be considered closed. Afterwards, ADs shall retain the IMP Form and relevant bill of entry with full set of import documents electronically with them for record and eventual inspection for a period of 5(five) years. However, in respect of cases which are under investigation by Bangladesh Bank inspection team/other Government agencies, the IMP Form and full set of import documents

including bill of entry shall be disposed of only after obtaining clearance from the inspection team/Government agency concerned. (3) Cases with material discrepancy between the particulars of merchandise for which remittance was made and the merchandise actually received as evidenced by the authenticated copy of bill of entry/customs certified invoice, should be reported on monthly basis to FEOD, Head office or other offices of Bangladesh Bank, in proforma as given at Appendix-5 by 10th day of the following month. Importer who has failed to submit authenticated bill of entry or whose bill of entry is not available in Customs electronic system against any earlier remittance for import within the stipulated time (or within the extended period allowed by Bangladesh Bank) will be barred from opening new letter of credit without prior permission of Bangladesh Bank. It will equally be applicable for import against admissible advance payment and/or imports under sales contract without LCs. ADs shall also refrain themselves from amending LCs under which IMP reporting remains unmatched beyond 4 months from the date of payment. (4) To resolve the cases of unmatched overdue bill of entries (partial or full) due to nonreceipt/short receipt of goods as per LC/Contract/IMP, importers may arrange to receive the unmatched amount in foreign currency (including associated bank charges) from the same foreign supplier through banking channel. Once the refund is received from foreign supplier abroad against non-shipment/short shipment of goods, etc., ADs shall report the same to the 'Online Inward Remittance Monitoring System'. Afterwards, ADs shall report to Bangladesh Bank (FEOD, Head Office, Dhaka to mail ID: feod.import@bb.org.bd) for recording the refund information against the concerned IMP number reported to the OIMS. (5) In case of usual bank charges deducted while on refund transactions, ADs shall report the refunded amount to the ‘Online Inward Remittance Monitoring System’. (6) Refund against payments made in advance:
(a) Refund from legitimate sources irrespective of supplier may be acceptable provided that: (i) There is bonafide business relationship between the remitter(s) and the supplier(s) with whom the earlier contract/LC was established; (ii) Remitter(s) will have to be from FATF compliant countries; (iii) ADs shall satisfy themselves regarding the authenticity (with reference to LC/Contract/Invoice) of the transactions and adhere to KYC and AML/CFT guidelines. (b) ADs shall submit all such applications through Online Ticketing Module of OIMS under the Ticket Category titled ‘Refund of Import Payments’ for adjustment with respective IMP Forms. It is mandatory to mention the relevant LC ID, IMP number and Inward ID number while issuing such tickets. (7) In cases of failure of submission of bill of entry due to loss or damage of goods by accident, or for goods auctioned by the Customs Authority or confiscated by Government, ADs may, apply to Bangladesh Bank soliciting waiver of reporting of such cases as ‘non-submission’ in their periodic return to Bangladesh Bank with documentary evidences as per paragraph 33 below (as the case may be).
32. Acceptance of electronic bill of entry
ADs may accept bill of entry accessible to them through the customs automated system to dispose IMP Form on completion of matching formalities. In this context, ADs shall observe the following instructions:

(1) ADs shall be satisfied with the release of imported goods and the settlement of payment on account of applicable duties and taxes against the relative import for which bill of entry has been generated; (2) ADs shall take a print-out from the system of concerned bill of entry and preserve it in the relative import files, up to the prescribed period, after authentication by their competent officials for record and eventual inspection. (3) The option as noted above shall be applicable only for import through custom houses having automated system for issuance of bill of entry. (4) The above authorization shall not waive ADs to obtain bill of enty from importers due to nonavailability of the same in the customs automated system within/beyond the statutory period, and other regulatory purposes required by Bangladesh Bank or by other relevant Government agencies.
33. Loss of goods
In the event goods are completely lost, copy of the IMP Form should be forwarded to Bangladesh Bank giving full particulars of the loss and the manner in which the insurance claim has been collected. In the event of partial loss, the authenticated copy of the customs bill of entry for the goods actually cleared should be submitted giving full particulars of the loss and the manner in which the insurance claim has been collected.

Part-C
IMPORT UNDER CONTRACTS
34. Imports under purchases/sales contracts without LCs
(1) In accordance with the IPO in force and in compliance with the provisions of foreign exchange regulations, ADs may allow eligible importers to import admissible items through contracts on usance basis under supplier’s/buyer’s credit. The instructions to be followed for imports are outlined below:
(a) Imports through the relevant purchases/sales contracts needs to be submitted to designated ADs for onward submission to Bangladesh Bank online reporting portal as per paragraph 5 of this circular; (b) The usance period shall not exceed the limit as prescribed at paragraph 35; (c) Before submission of import information in Bangladesh Bank online reporting platform, (i) ADs shall be satisfied about past performances of importers; (ii) ADs shall obtain credit report of foreign suppliers as per prevailing regulations; (iii) An undertaking needs to be collected from the respective importer to the effect that they have necessary financing arrangements/appropriate cash flows for settlement of import liabilities on maturity; (iv) ADs shall not facilitate imports through purchases/sales contracts in case of any earlier such import payment remaining unsettled beyond maturity. (2) Imports are also admissible under purchases/sales contracts for enterprises operating in specialized zones (EPZs, EZs, HTPs, and other zones declared by the Government). ADs should observe relevant instructions stated above against such imports by enterprise of specialized zones. (3) Short term external borrowing for imports of admissible goods is permitted within the cost ceiling as per paragraph 36 and declaration from time to time by Bangladesh Bank. Importers may arrange short term financing from external sources at such cost. The financing arrangement may include LCs/SBLCs/guarantee to suppliers by external lenders. Short term loans on account of import payments and financing costs may be effected as per underlying arrangements. General waiver from Section 13(1) of the FER Act, 1947 is hereby given to importers for issuance of guarantees (other than bank guarantee/standby LC) such as corporate guarantee, personal guarantee, third party guarantee, etc. favoring foreign lenders/suppliers against admissible imports. (4) Commercial imports without LCs within the prescribed limit of the IPO in force will be executable only on document against payment basis, unless otherwise permitted on usance basis. General permission is hereby given for usance facilities up to 60 days, exclusive of eligible facilities as outlined at paragraph 35(1) of this circular, against commercial imports of admissible goods without LCs within the provision of the IPO in force and subsequent notifications. (5) ADs shall maintain records of import through contracts with relevant information including dates of maturity and settlement. Based on the records, ADs will notify importers to settle the liabilities before maturity. As usual, ADs shall comply with relevant instructions of foreign exchange transactions including reporting routine and other applicable regulations.

Part-D
IMPORTS ON SUPPLIYER’S (DEFERRED)/BUYER’S CREDIT
35. Import on supplier’s credit/deferred payment basis
(1) Subject to compliance with other conditions laid down in this part and in the IPO in force, import is allowed on supplier’s credit/deferred payment/usance basis in the following cases:
(a) Industrial raw material imports for own use of industrial importers (including back to back imports discussed in detail in the next section) on up to 180 days usance basis; (b) Import of coastal vessels including oil tankers and ocean going vessels including those procured for scrapping on up to 360 days usance basis; (c) Import of agricultural implements and chemical fertilizers on up to 180 days basis; (d) Import of life saving drugs (certified/declared as such by Drugs Administration Authority) and Ophthalmic Medical Equipment including Intraocular Lens on up to 180 days usance basis; (e) HR Coil, scrap, pig iron & sponge iron used for manufacturing of flat steel and long steel under steel industries for being used in own factories on up to 360 days usance basis; (f) Import of unprocessed yarn on up to 270 days for own use by industrial importers producing outputs for only local delivery against back to back LCs. This usance period is usable for imports within the limits of production capacity of the concerned factory as set by the Department of Textiles or up to delivery value realized in foreign currency in last twelve months, whichever is lower; (g) Import of Active Pharmaceutical Ingredients (API) and Laboratory Reagents on up to 360 days, subject to imports of inputs duly approved by Directorate General of Drugs Administration Authority (DGDA); (h) Import of Heavy Furnace Oil (HFO)/ High Sulpher Fuel (HSFO) as raw materials for own use of Power Generating Enterprises by their nominated entities against specific approval from Ministry of Power, Energy and Mineral Resources on up to 360 days usance basis; (i) Import of empty LPG cylinder by industrial importers for own use on up to 360 days usance basis; (j) Import of raw material for Pre-fabricated Steel Structure industries for these industries only on up to 180 days usance basis. (2) ADs may allow their industrial importers to import capital machinery on usance term up to 3 years under supplier’s/buyer’s credit. The usance tenure shall also be applicable to capital machinery imports by industrial enterprises operating in export processing zones/private export processing zones/ economic zones/hi-tech parks and other areas designated as specialized zones by the Government. However, usance period for import of spares will not be more than 360 days in all cases.
36. Interest rate
For such deferred payment imports, the prices must be internationally competitive and usance interest, if any, may bear all-in-cost ceiling per annum at mark-up of 4.00 percent over benchmark rate, e.g., SOFR, Euribor, etc. applicable to the relevant currency for short term trade finance in foreign exchange.
37. Import on buyer’s credit
Besides trade credit from suppliers, import of items stated above is allowed on buyer’s credit. The

same interest level will be applicable also for buyer’s credits from foreign banks and financial institutions arranged through designated ADs of the importers in Bangladesh.
38. Payment against usance bills through purchases
ADs are free to purchase accepted usance/deferred import bills covering imports into Bangladesh and make payment before maturity to foreign suppliers in foreign currency or payment to a nonresident Taka account, whereas, they do not receive payment for the bills from the importer pending maturity and thus the transactions result in the extension of credit facilities to the importer in Bangladesh. ADs are free to discount/ purchase accepted usance/deferred bills against import from abroad on banker customer relationship and normal banking practices applying due diligence.
39. Reporting on buyer’s credit
Head Offices /Principal Offices of all AD banks are advised to upload related data on Enterprise Data Warehouse in usual manner as per the requirements of Statistics Department, Bangladesh Bank.
40. Import on longer terms
Instructions regarding opening of import LCs on longer usance terms against supplier's credits obtainable by industrial enterprises in the private sector as per general or specific BIDA or Bangladesh Bank’s approval, as the case may be.

Part-E
PAYMENT BEHAVIOR
41. Payment of import liability
ADs shall make payment of import liabilities as per their exposure/acceptance on due date/maturity. Failure in settlement of import liability may result in punitive actions including revocation of AD license by Bangladesh Bank.
42. Payment behavior framework for timely import payments
(1) ADs need to adhere strictly to their commitments with regard to import payments. Accordingly, ADs shall follow the payment behavior framework as outlined below:
(a) Before issuing LCs, ADs shall ensure appropriate credit lines available for the respective importers; (b) Issuance of LCs on behalf of importers without underlying credit facilities is subject to adequate cashflows and prospective fund arrangements to cover import payments; (c) Usance import should be financed through buyer's credit by offshore banking operations, or by the own fund of ADs in terms of paragraph 38 of this circular. (2) ADs are reminded to the effect that failure to settle payments on time is subject to punitive actions, including personal accountability to the officials responsible for the transactions.
43. Payment of overdue accepted bills (foreign or local)
Non-payment of import bills on time tarnishes the image of the country's banking system and disrupts a conducive environment for foreign trade by increasing its cost. Considering these issues, banks shall take the following measures to ensure prompt payment of overdue accepted bills (foreign or local):
(1) A comprehensive action plan shall be taken after detailed review of overdue accepted bills (foreign or local), including analysis based on factors like ongoing litigation, presence of realization clauses, and classification as large industrial enterprises. (2) Branch-wise performance should be evaluated during the review. Branches with a high volume of overdue unpaid accepted bills (foreign or local) shall be brought under special monitoring arrangements. (3) If any bill under litigation is not payable, the supplier’s bank shall be informed accordingly. (4) While submitting the monthly report on overdue accepted bills (foreign or local), data shall be verified through the OIMS before submission.
44. Documents to head offices/principal offices
All bills (foreign or local) submitted to AD branch, along with discrepancies and details of payments made, shall be preserved and sent monthly to the relevant department at the head office/principal office.
45. Submission of statements
Banks are required to submit the following statements to FEOD, Bangladesh Bank, Head office regarding overdue accepted bills through e-mail complying with the instructions mentioned in
Appendix-10:
(1) Monthly summary statement of overdue accepted bills (Appendix-6) (2) Monthly statement of overdue accepted bills -Local payables (Appendix-7) (3) Monthly statement of overdue accepted bills -Foreign payables (Appendix-8) (4) Monthly statement of overdue accepted bills -Local receivables (Appendix-9) (5) Monthly bank-wise summary statement of local overdue accepted bills (Appendix-10)

Part-F
REMITTANCE FOR SOFTWARE IMPORT THROUGH
E-DELIVERY AND OTHER PAYMENTS
46. Remittance against purchase of software through e-delivery
ADs may effect remittance against purchase of software through e-Delivery subject to observance of the following instructions:
(1) Customs assessment of the purchases: ADs may allow their customers to arrange customs assessment of the software after being satisfied from the certificate issued by Bangladesh Association of Software and Information Services (BASIS) to the effect that the purchase of software is genuine and sourced from reliable supplier. (2) Outward remittances: On receipt of customs assessment order and documentary evidence of payment of duties/taxes, ADs may effect payment against the purchase of the software subject to compliance of the following conditions:
(a) ADs shall be satisfied with the certification/license issued by the supplier that the software has already been received by the purchaser; (b) ADs shall observe due diligence and comply with AML/CFT regulations in respect of the transactions; (c) ADs shall keep an authenticated copy of the certification/license issued by the supplier and report the transactions to the OIMS of Bangladesh Bank with IMP Form including monthly returns/schedules. (3) Application for remittance without the procedure mentioned above shall require prior approval of Bangladesh Bank.
47. Payment in foreign currency against local supply of goods under international tender
ADs may establish letter of credit in foreign currency favoring local contractor to implement work order under international tender. Such LCs established in foreign currency shall be settled through foreign currency clearing accounts of the concerned banks maintained with Bangladesh Bank. The facility is equally applicable for sub-contractors/agents/other local suppliers in terms of NBR explanation letter of November 13, 2022 (Appendix-11). Foreign exchange thus received may be retained up to thirty days to settle import payment obligations of the client as mentioned in paragraph 54 of this chapter.
48. Payment of import bills from advance export proceeds retained in foreign currency
accounts of ship builder-exporters
General authorization has been given to ADs to open foreign currency accounts on behalf of ship builder-exporters for retaining export proceeds received in advance against ship exports. The balances of these accounts may be used for input procurements. ADs should comply with relevant instructions in operating the foreign currency accounts.

Part-G
BACK TO BACK LC
49. General
ADs may open back to back import LCs against export LCs received by export oriented industrial units operating under the bonded warehouse system, subject to observance of domestic value addition requirement (stated in terms of permissible limit of value of imported inputs as percentage of FOB export value of output) prescribed by the Ministry of Commerce from time to time.
50. Opening of back to back import LC
Further to the relevant general instructions in the foregoing parts of this circular, the following instructions should be complied with while opening back to back import LCs:
(1) Only recognized export oriented industrial units operating under bonded warehouse system will be allowed the back to back LC facility. The unit requesting for this facility should possess valid registration with the CCI&E and valid bonded warehouse license. (2) The master export LC (against which opening of back to back LC is requested) should have validity period adequate to cover the time needed for importation of inputs, manufacture of merchandise and shipment to consignee. (3) The back to back LC value shall not exceed the admissible percentage of net FOB value of the relative master export LC (as per prescribed value addition requirement) and the price of goods to be imported must be competitive. For computation of net FOB value of a master export LC, the freight charge, insurance cost and commission if payable by the exporter shall be deducted from the LC value. If the freight element is not shown separately, a certificate from the shipping company or the shipping agent should be asked for. (4) The back to back import LCs shall be opened on usance basis for a period not exceeding 180 days. Interest for the usance period shall not exceed the rate as prescribed at paragraph 36 of this circular. Back to back LCs opened against (a) Export Development Fund (EDF) administered by Bangladesh Bank and/or against (b) balances on Non-Resident Foreign Currency Deposit (NFCD) Accounts may be on sight basis subject to relevant instructions in this regard. (5) All amendments of the master export LC should be noted down carefully to rule out chances of excess obligation under the back to- back import LC. (6) Back to back import LC should not be opened against LCs received for export under Barter/STA, without prior approval of Bangladesh Bank.
51. Inland back to back LCs
(1) Inland back to back LCs denominated in foreign exchange may be opened in favor of local manufacturer-cum- suppliers of inputs, against master export LCs received by export oriented manufacturing units operating under the bonded warehouse system, up to value limits applicable as per prescribed value addition requirement/utilization permit. However, EXP/IMP Form will not be applicable in such cases unless EPZ/PEPZ/EZ/HTP unit is associated. (2) Back to back import LC against inland back to back LC: Back to back LC may in turn be opened for import of necessary inputs, against inland back to back LC in favor of a local manufacturer- cum- supplier operating under the bonded warehouse system, in accordance with the instructions, mutatis mutandis, at paragraphs 49 and 50 above.

(3) Opening of LC in foreign currency by exporters operating without bond license: As per decision of the National Board of Revenue, a manufacturer-cum-exporter operating without bonded warehouse licence, may open usance LC and sight LC (against advance receipts of export proceeds) denominated in foreign exchange favouring packaging industries, manufacturers of hanger and plastic goods operating under bonded warehouse licence against all types of export contracts (sales contract, purchase order, proforma invoice, etc.) received from abroad.
52. Opening LC in local currency
Hundred percent export oriented industries/direct exporters shall open and settle inland LC in foreign currency favoring manufacturer-cum-suppliers in the above cases only. For procuring inputs from local traders/suppliers, LC shall be opened in local currency only.
53. Payment against back to back LCs
Payment in settlement of usance bill against the back to back LCs shall be made at maturity, out of proceeds of the relative export repatriated in foreign exchange; the required foreign exchange will be set aside, out of the export proceeds including payments realized in advance, in a separate foreign currency account in the subsidiary ledger of ADs. Before making remittance against the back to back import bill, ADs should see that the authenticated copy of bill of entry for bond in evidence of actual arrival of the relative imports has been submitted. Usance bills against back to back LCs should be settled at maturity even where for some reason export has not taken place, or where the export proceeds have not been realized or where the realized export proceeds net of value addition requirement is not adequate to cover the back to back import payment. In such cases post facto approval of Bangladesh Bank (FEOD, Head office or other offices of Bangladesh Bank) will have to be sought for within fifteen days of the following month of effecting the payment, explaining fully the circumstances of export failure or non-realization/ short realization of export proceeds, with relevant supporting documents. Cases of failure of export against the relative master LCs should also be reported to the NBR and the concerned Commissioner of Customs so that they may monitor closely the level of stock of the relative goods in the bonded warehouse. A copy of the letter to NBR reporting the export failure should be submitted to Bangladesh Bank along with the application for post facto approval of remittance towards backto-back import payment. Also, all applications for post facto approval of such remittance in the event of export failure and short realization/non-realization of export proceeds should be accompanied by the authenticated copy of the relative bill of entry evidencing actual receipt of the back to back imports.
54. Stock of inputs procured under back to back LC
ADs should maintain effective watch on the stock of inputs procured under the back to back arrangement and of finished products made therewith; any indication of illegal disposal of stocks from the bond coming to the knowledge of ADs should immediately be reported to the concerned Commissioner of Customs and NBR.

Part-H
RETENTION OF EXPORT PROCEEDS FOR
SETTLEMENT OF IMPORT PAYMENTS
55. Retention of foreign currency in single pool for back to back import payments under bonded
warehouse system
(1) On encashment of export proceeds equivalent to the portion of value addition, residual portion of export proceeds against different export bills of the same export unit operating under bonded warehouse system may be maintained in foreign currency in a single pool by ADs. Such retention can be made out of advance payment. Funds from this pool may be used for different back to back import payments of the same exporting unit on maturity basis to keep minimum involvement of AD's own fund under the exchange position as well as to keep exporter free from debt burden. (2) ADs may, on applications from exporters, retain value added portion of export proceeds in foreign exchange for a maximum period of 30 days. The fund so retained will be used through same ADs for settlement of other import obligations payable by same exporters within this period. (3) ADs are allowed to transfer the unencumbered fund from the pool, not exceeding permissible portion eligible as Exporter’s Retention Quota entitlement, to other ADs for bonafide use by exporters and/or their sister concerns as per relevant instructions. As usual, ADs shall encash the unused fund, if any, compulsorily in Taka just after expiry of 30 days.
56. Payment of import bills (other than back to back) from direct and deemed export earnings
(1) If import bills (other than back to back LC) fall due for payment within 30 days from the date of receipt of export proceeds including payments realized in advance by the exporters/deemed exporters, ADs may, on application by the manufacturers-cum-exporters retain such proceeds in foreign exchange for a maximum period of 30 days for making such import payments even it exceeds the allowable retention quota limit. However, export proceeds so retained (in excess of the usual retention quota entitlement) shall be encashed compulsorily in Taka if the same is not utilized for such import payment within 30 days from the date of receipt. To identify such transactions distinctly, ADs are required to maintain appropriate register and other necessary records. (2) Unencumbered balances held in the pool shall, at the request of exporters within the stipulated time, be useable to meet import payments of exporters’ subsidiaries/sister concerns, subject to observance of the instructions applicable for fund transfer from ERQ accounts as per paragraph 77(2), Part-J of FE Circular No. 31, dated July 31, 2025.
57. Retention of discounted proceeds
Discounted proceeds against export/local delivery bills may be retained in foreign currency for settlement of import liabilities as per paragraph 55 or paragraph 56 in accordance with the nature of liabilities.

Part-I
INLAND LC IN FOREIGN CURRENCIES –
OPERATIONAL MODALITIES
58. ADs are permitted to establish inland back to back LCs and other admissible LCs in foreign
currencies in terms of this circular. Operations of inland LCs in foreign currencies are guided by UCP in force and other international standards, including regulatory instructions issued from time to time by Bangladesh Bank.
59. Domestic trade in foreign currencies faces bottlenecks due to various clauses embedded in
LCs. These clauses are often difficult to be met within the validity of LCs. Examples include requirements of delivery challans to be signed by top officials of LC applicants, acceptance of documents by applicants before these are submitted to beneficiaries’ ADs, etc. Domestic sellers frequently encounter financial difficulties due to prolonged processing time. Despite the significant volume of transactions, domestic trade activities, including financing by ADs, remain sluggish and lack vibrancy. Heading
60. To bring ease in domestic trade, ADs are advised to establish operational modalities that can
simplify domestic trade transactions in foreign currencies. In addition, ADs need to observe following instructions:
(1) For LC issuing ADs:
(a) ADs shall avoid to incorporate conditions in LCs which cannot be maintained during the validity of respective LCs. (b) In case of unusual conditions to be imposed by LC applicants, ADs shall examine if such items are available in purchases or sales contracts/proforma invoices. (c) On receipt of documents for payment/acceptance, ADs shall conduct usual formalities for examining them, and making payments or acceptance, whichever is required; in no way, they shall forward the same documents to LC applicants for examination and their acceptance. (2) For LC advising/nominated ADs:
(a) ADs should examine clauses contained in respective LCs received from LC issuing banks and advise the same to beneficiaries. (b) On receipt of documents from beneficiaries, ADs shall examine the documents and forward the same for payment/collection to LC issuing ADs. No Heading
61. Transactional framework for inland trade needs to be brought under electronic platform.
Accordingly, ADs should introduce electronic options with regard to communication relating to LCs such as transmission, advising, presentation, acceptances and all subsequent communication under mutually agreed systems with counterparts. ADs shall have safe and secure electronic systems, duly approved by the Board of Directors (competent management team in case of foreign banks), compliant with the Guideline on ICT Security in force.
62. ADs shall report the information including acceptances to Bangladesh Bank online reporting
system in accordance with reporting routine, inter alia.

Part-J
IMPORT TRADE FOR SPECIALIZED ZONES
63. Principles and Procedures
Operations of import trade in specialized zones (EPZ/PEPZ/EZ/HTP) are guided by respective regulations. The following types of industrial enterprises operate in specialized zones:
(1) Type A: 100 percent foreign owned including those owned by Bangladeshi nationals ordinarily resident abroad; (2) Type B: Joint venture projects between foreign and Bangladeshi entrepreneurs resident in Bangladesh; (3) Type C: 100 percent Bangladeshi entrepreneurs resident in Bangladesh.
64. Imports by enterprises operating in specialized zones
(1) IMP Form procedures will not be applicable for intra/inter zones transactions and import from Bangladesh (Non-zone area). These transactions are to be reported in relevant monthly schedules with reference to EXP forms issued at export-leg. (2) National Board of Revenue (NBR) vide its order no. 288/2017/Customs/529 dated December 21, 2017 effects relevant amendment in the Customs (Economic Zones) Procedures, 2017 to waive export/import formalities (EXP/IMP) for transactions between enterprises operating in Domestic Processing Area (DPA) of EZs and in Tariff Area (TA) of Bangladesh. Accordingly, transactions by DPA enterprises in EZs irrespective of their ownership status are allowed to settle their liabilities for imports and other permissible expenses out of the fund held in their Taka accounts. Hence, the restrictions to use AD’s own fund for import settlement as mentioned in paragraph 65(1) will not be applicable for EZ enterprises operation in DPA.
65. Imports on account of zone enterprises
(1) Imports by Type A, B and C enterprises in specialized zones are permissible on usance basis under supplier’s/buyer’s credit. ADs shall bear in mind the position that the import payments may be made only out of the foreign exchange earnings of the concerned units or out of their borrowings abroad credited in their foreign currency accounts, and that no funds from AD's own foreign exchange resources can be used for this purpose. Before execution of inputs import under supplier’s/buyer’s credit, ADs should satisfy themselves completely about the clarity of the conditions in the export orders/LCs, the standing and credit of foreign buyers and the ability of the enterprises for timely execution of export orders. (2) Type C enterprises shall be allowed to obtain foreign exchange from ADs to settle obligations for importing capital machinery by the conversion of equivalent amount of equity and/or authorized loan received in local currency. Similarly, Type B enterprises may be allowed to convert their local equity/authorized loan received in local currency into foreign exchange to settle obligations for importing capital machinery if equity/authorized foreign loan received from abroad falls short to meet such obligations.
66. Import payments matching with export proceeds
Import payments against LCs should be scheduled in a manner that payment obligations do not fall due before receipt of export proceeds. In all cases of opening inputs import LCs on accounts of enterprises in respective zones, ADs should satisfy themselves that necessary arrangements have been made by the enterprises that in case of shortfall or delay in export receipts, foreign exchange would be made available from external sources.

Retention of export proceeds for settlement of import liabilities
(1) ADs may allow Type B and Type C industrial enterprises to retain their repatriated export proceeds in back to back settlement pool in foreign currency in line with the provisions as per paragraph 55 of this circular. Accordingly, Type B and C industrial enterprises may:
(a) retain repatriated export proceeds in the settlement pool until back to back payments. (b) retain the value added portion in the same pool for up to 30 days for settlement of import liabilities or other admissible payments in foreign currency. (c) transfer unutilized funds to other ADs for settlement of import liability of exporters or their subsidiaries/sister concerns operating in specialized zones. (2) In case of fund remaining unused within 30 days, ADs may transfer the same, after encashment of at least 20 percent (25 percent for garments sector) of total repatriation, to foreign currency accounts of respective exporters. (3) Exporters executing export without back to back basis may retain repatriated export proceeds in foreign currency for 30 days and utilize the same in terms of paragraph 56 of this circular, including transfer to other ADs to meet import payments of exporters’ subsidiaries/sister concerns operating in specialized zones. Unused fund, if any, may be transferred to foreign currency accounts of respective exporters, on encashment of at least 20 percent (25 percent for readymade garments exports) of total repatriation.

Part-K
IMPORT OF GOLD, SILVER, JEWELLERY AND CURRENCY NOTES
68. Definition of Gold and Silver
Gold, as defined under Section 2 of the FER Act, 1947 includes gold in the form of coin whether legal tender or not or in the form of bullion or ingot whether refined or not. Silver, as defined under the same Section of the said Act includes silver bullion or ingot, silver sheets and plates which have undergone no process of manufacture subsequent to rolling and uncurrent silver coin which is not legal tender in Bangladesh or elsewhere.
69. Import of gold and silver
In terms of Notification No. 1(2) ECS/48 dated 1st July, 1948 issued pursuant to sub-section (1) of Section 8 of the FER Act, 1947 Government have prohibited, except with the general or special permission of Bangladesh Bank, the import into Bangladesh from any place outside Bangladesh of:
(1) any gold coin, gold bullion, gold sheet or gold ingot whether refined or not, and (2) any silver bullion, silver sheet or plate which has undergone no process of manufacture subsequent to rolling or any uncurrent silver coin.
70. Import of gold and silver into Bangladesh from any place outside is, therefore, subject to
Bangladesh Bank's general or specific authorization. Bangladesh Bank accords approval, against applications, to authorized gold dealers in terms of the Gold Policy-2018 (amended)-2021.
71. In terms of Notification No FE-1/16-BB, dated January 20, 2016 (Appendix-12), general
permission has been accorded by Bangladesh Bank allowing an incoming passenger irrespective of their resident status to bring into Bangladesh gold or silver in bullion/ingot form up to the prescribed limit in terms of the relevant Baggage Rules in force issued under Customs Act, 2023.
72. Definition of jewellery and precious stones
The terms jewellery and precious stone are deemed to include all articles made wholly or mainly of gold, platinum, diamonds of all kinds, precious or semi-precious stones, pearls, whether or not mounted, set or strung and articles set or mounted with diamonds, precious or semi-precious stones or pearls.
73. Import of jewellery and precious stones
There are no restrictions under the FER Act, 1947 on the import of jewellery and precious stones. However, import of gold jewellery is to be executed by gold dealers authorized by Bangladesh Bank within the purview of the Gold Policy-2018 (amended)-2021.
74. Import of securities
There are no restrictions under the FER Act, 1947 on import of securities into Bangladesh.
75. Import of foreign currency notes and coins
(1) In terms of Bangladesh Bank Notification Nos. FE-1/09-BB dated 4th August, 2009 (Appendix-13) and FE-01/2017-BB dated 15th October, 2017 (Appendix-14), any person may bring into Bangladesh from any place outside Bangladesh without any limit foreign currency notes or bank notes other than- (a) Un-issued notes and coins. (b) Notes legal tender in Bangladesh in excess of Taka 10,000 (Ten thousand) in value.

Provided that the concerned person makes a written declaration to the Customs Authority ties at the time of arrival in form FMJ (Appendix-15) of the entire amount; no declaration will however, be necessary if the amount brought in does not exceed USD 10,000 (Ten thousand) or its equivalent in foreign currency and does not exceed Taka 10,000 (Ten thousand) in notes legal tender in Bangladesh. Each set of form FMJ consists of 3(three) copies - the original copy for Bangladesh Bank, the second copy for the Customs Authority and the third copy for the concerned passenger. (2) Sending into Bangladesh by post/courier or otherwise of any currency note, bank note or coin by any person from abroad without general or specific permission from Bangladesh Bank is prohibited. (3) Any traveller entering into Bangladesh may bring with him at every time Bangladesh currency notes/coins within the limit as prescribed hereunder:
(a) Members of the crew of a ship or an aircraft or the staff of a railway may bring Bangladesh currency notes up to Taka 10,000 (Ten thousand) at any one time. (b) An incoming/outgoing passenger may bring in/take out up to Taka 10,000 (Ten thousand) in Bangladesh currency at the time of arrival into/departure from Bangladesh. (c) Every foreign national travelling on a foreign passport and persons travelling on Bangladesh passports will, while entering into Bangladesh by sea, air or land from any destination outside Bangladesh declares to the Customs Authority, on form FMJ to be completed in one set of Form containing three copies for all currencies if the amounts brought in exceed the limits mentioned at paragraph 1 above. Transit passengers, however, are not required to complete this form. The customs official will return to the declarant the copy of the form designated for the passenger duly authenticated. Authorized Money Changers and ADs need not ask for this form at the time of encashing the foreign currency and foreign currency instruments to Taka. Foreign nationals should however retain these declarations with themselves so as not to face difficulty in taking out unspent foreign exchange at the time of their departure from Bangladesh. (4) Bank booths operating in airports under licence with limited scope from Bangladesh Bank may take deposits from NRBs in foreign currency brought in by them for crediting their foreign currency accounts or Non-resident Taka accounts (by converting foreign currency at prevailing exchange rate) maintained with concerned AD bank branches. In case the foreign currency brought in by NRBs differs from account type (i.e., USD A/C, GBP A/C, etc.) of the account holders, bank booths shall convert the currency into relevant foreign currency at appropriate cross currency exchange rate to effect the deposits. An incoming person may retain foreign exchange up to USD 10,000 or equivalent brought in by himself/herself without declaration and take out the same at the time of departure from Bangladesh without endorsement in passport and air ticket. Such amounts may also be deposited in RFCD account by a resident Bangladeshi and in NFCD account/Private Foreign Currency Account by a non-resident Bangladeshi any time after arrival in Bangladesh. Amount in excess of USD 10,000 (Ten thousand), brought in by the resident Bangladeshis, should however be encashed or deposited in appropriate foreign currency account within 30(thirty) days of arrival. Such amounts brought in by non-resident Bangladeshis can be encashed or deposited in foreign currency account any time after return to Bangladesh. For a foreign national, the entire amount brought in with declaration on Form FMJ or up to USD 10,000 (Ten thousand) brought in

without declaration may be taken out freely at the time of departure. Such amounts brought in by foreign nationals can be encashed or deposited in foreign currency account any time after their entry into Bangladesh. (5) ADs may supplement its holdings of foreign currency notes from abroad with approval from Bangladesh Bank.
76. Purchase of foreign currency from digital wallets of incoming tourists/passengers
(1) Incoming tourists/passengers can use their international cards brought in with them in Points of Sales (POS) for shopping. ATM booths facilitate them to draw cash in Taka by use of their cards. ADs execute the transactions in association with global card transaction settlement platforms with linkage arrangement to credit in nostro accounts by equivalent foreign currency against the payment in Taka. In addition to cards, payment through digital wallets as cashless medium are found growing worldwide. (2) To facilitate the transactions for incoming tourists/passengers bringing money through digital wallets, ADs may provide acquiring services to facilitate their transactions while visiting Bangladesh. With regards to arrangement of counterparties abroad for the settlement of payment against transactions to be captured from digital wallets, ADs shall observe the following instructions:
(a) ADs shall have standing arrangements with internationally recognized digital wallet service providers/Online Payment Gateway Service Providers (OPGSPs) and/or aggregators having operation in multiple countries (hereinafter referred to as foreign payment service providers, PSPs) (b) Under the arrangement with foreign PSPs, ADs shall maintain foreign currency accounts or Taka accounts in terms of paragraph 1(i), chapter 13; paragraph 8(b), chapter 14 of GFET-2018, Vol-1; and subsequent circulars. (c) ADs shall realize payments by debit the accounts maintained as per (b) above and arrange transaction facilities to incoming tourists/passengers for which ADs shall have adequate technological supports. (d) Overdraft facilities will be allowed for the accounts so maintained in Bangladesh provided that ADs shall have payment guarantees, from banks acceptable to them, for the adequate amounts based on the transaction flows. (3) In accordance with the above arrangement, ADs shall purchase foreign currency from wallets of incoming tourists/passengers by (i) making payments in equivalent Taka in cash and/or (ii) issuance of one time prepaid cards in Taka during their stay in Bangladesh. In addition, ADs shall arrange local transactions through POS under merchant arrangements with concerned vendors. Reconversion facility in terms of paragraph 9, chapter 12 of GFET-2018 and subsequent circulars can be made through credit to the respective accounts of foreign PSPs so maintained. (4) ADs shall exercise due diligence in respect of the transactions with foreign PSPs and comply with the foreign exchange regulations, AML/CFT regulations and relevant laws/regulations in force. As usual, ADs shall observe reporting routine to Bangladesh Bank. In this context, debit to accounts maintained as per 2(b) above shall be treated as inward remittance on account of travel related receipts and vice versa.

Bringing in jewellery by incoming passengers
Bangladesh Bank has accorded general permission to all incoming adult female passengers to bring into Bangladesh any quantity of personal jewellery worn on their persons or as part of their personal baggages.
Import for jewellery under export scheme
(1) Export of gold jewellery and silver jewellery from Bangladesh may be effected by exporters registered with the office of the CCI&E as per normal EXP procedure. Back to back import LCs may be established by ADs for import of gold, silver and precious stones for manufacture and export of jewellery against export LCs received by registered jewellery exporters operating under the bonded warehouse system, subject to observance of the minimum domestic value addition requirement prescribed in the Jewellery Export Policy formulated by the Ministry of Commerce [10(ten) percent for gold jewellery, 15(fifteen) percent for stone-studded gold jewellery and 25(twenty five) percent for silver jewellery]. Back to back imports may also be effected against firm export orders in cases where import costs are met out of advances received by the exporter from the foreign buyer, or where the import payment is settled abroad directly by the foreign buyer. (2) If the cost of imported inputs are prepaid abroad by the foreign buyer or met out of advances received from the foreign buyer, exporters shall be required to repatriate export proceeds to the extent of the local value addition only. In such cases, the total export value and the cost of imported inputs should be shown separately in the EXP form.

Part-L
DEPOSIT OF COUNTERPART FUND IN RESPECT OF IMPORTS UNDER NON-PROJECT COMMODITY LOANS/CREDITS/GRANTS
79. Clean documents against LC Counterpart
Funds against all clean documents except in cases of discrepant documents received on collection basis or negotiated by the foreign banks under reserve, shall be deposited by the designated bank in Bangladesh to Govt. Account No. IV A (or such other account of the Govt. of Bangladesh as prescribed in respect of the relative loan/credit/aid) maintained with Bangladesh Bank within three working days from the date of receipt of documents; the said period shall be deemed to be inclusive of the date of receipt of documents and the date of deposit of counterpart funds to Bangladesh Bank.
80. Documents against LC received on collection basis/negotiated under reserve due to
discrepancy
In cases where due to discrepancy, the negotiating bank abroad sends the documents on collection basis or under reserve or otherwise the bank should forthwith arrange acceptance of the documents by the importers and deposit counterpart funds within 5(five) days from the date of receipt of the documents. In case of non- acceptance, the bank should return the documents to the negotiating bank or dispose of the documents in accordance with the instructions of the negotiating bank abroad.
81. Documents received direct by the ERD or designated banks without opening of LC
Under some loans, credits and grants, LCs are not opened by the utilizing agencies; instead goods are procured and shipped by the loan giving agencies themselves or by their nominated agencies. After shipment of such goods the documents are mailed either to the Economic Relations Division (ERD) of the Ministry of Finance or to the designated banks, as the case may be, for retirement of documents and clearance of consignment from the Customs Authority. On receipt of these documents, the bank should forthwith arrange with the relevant agency to pay the proceeds of the bills within a period of 7(seven) days for deposit to Bangladesh Bank. The agency should be warned that it would be required to pay interest at penal rate in the event of delay in the deposit of the funds within the stipulated period of 7(seven) days; cases of default should be brought to the notice of Bangladesh Bank promptly. (1) Documents against LCs opened by designated banks on application through the banks of the importers: In case of LC opened by the designated bank against application through the importer's bank, the latter must retire the documents not later than 24(twenty four) hours from the time of receipt thereof from the designated bank. If payment is not made within this time limit, the designated bank will be entitled to recover from the importer's bank any penal interest the former may have to pay to Bangladesh Bank. (2) In case, however, the documents are not found in accordance with the terms of the LC, the importer's bank should within 5(five) days from the date of receipt, either retire the documents or send back the same to the designated bank. Any delay on this score will forfeit their right to raise objection on the ground of discrepancies. (3) In all the above cases, the designated bank must send the documents to the importer's bank within 24(twenty four) hours of receipt. For any delay at the designated bank's end, the penal interest relating to the period of delay made by them will have to be borne by them.

(4) The designated bank will deposit Taka funds to Bangladesh Bank within the time limit as in the foregoing paragraphs. In all cases of delay it will be the responsibility solely of the designated bank to deposit the Taka funds to Bangladesh Bank at the earliest along with interest at prescribed rate.
82. Application of rate of exchange
(1) Counterpart funds under foreign commodity loans, credits and grants where forward contract has been booked will be required to be deposited at the rate at which the relevant contract has been booked. (2) Counterpart funds under foreign commodity credit agreements with barter component where no forward contract can be booked, are required to be deposited at the BC selling rate prevailing on the date of opening of LC. (3) Unless specified otherwise, in all other cases deposit of counterpart funds will be made at the BC selling rate ruling on the date of lodgment of the bill as applicable to cash import without forward cover facilities.
83. Penal interest
(1) An AD who has either opened an LC as designated bank or forwarded it to the appropriate designated bank should be in all preparedness to follow the schedule for deposit of counterpart funds as mentioned in the foregoing paragraphs. In case of delay in making the deposit within the prescribed period, the funds should be deposited to Bangladesh Bank along with penal interest computed on the following basis:
(a) 5(five) percent above the bank rate-for the first seven days beyond the prescribed period. (b) 6(six) percent above the bank rate-for the subsequent period after the expiry of first seven days beyond the prescribed period. (2) (a) All designated banks under foreign commodity loans, credits and grants will send, by the 15th of the following month, a monthly statement of all LCs opened (Loan/Credit/Grant wise) as per proforma in Appendix-16 to the office of Bangladesh Bank with which counterpart funds will be deposited. (b) Submission of particulars of LCs opened and discrepant bills: In case any bill is received by any designated bank/importer's bank on collection basis due to discrepancy in the bills or otherwise, from the negotiating bank abroad/loan giving agency/ERD, notice of retirement should be served upon the importer concerned within 24 hours of receipt of such documents, for retirement of the bills against payment within the prescribed time limit, under advice to the office of Bangladesh Bank with which counterpart funds will be deposited, as per proforma in
Appendix-17.
(3) At the time of deposit of counterpart funds designated banks will furnish to Bangladesh Bank a statement as per Appendix-18. (4) Instructions contained in the above paragraphs shall also be applicable in respect of documents received at places where there is no office of Bangladesh Bank. (5) LCs opened by the designated banks for imports under loans, credits and grants should not provide for payment on deferred basis.

See Paragraph 8 Appendix 1
IMP Form
Primary Import Information

See Paragraph 8 Page-2 Appendix 1
I/We certify that the above import is covered by a valid Proforma Invoice/ Sales Contract/LC.

See Paragraph 8 Page-3 Appendix 1

See Paragraph 9
APPENDIX 2
List of Bangladesh Bank's
Offices and Their Jurisdictions

See Paragraph 9 Appendix 2
FOREIGN EXCHANGE POLICY DEPARTMENT,
BANGLADESH BANK, HEAD OFFICE, DHAKA
Dhaka
Narayanganj
Munshiganj
Narsingdi
Gazipur
Manikganj
Mymensingh
Netrokona
Kishoreganj
Tangail
Jamalpur
Sherpur
Faridpur
Rajbari
Brahmanbaria
BANGLADESH BANK, CHATTOGRAM
Chattogram
Coxsbazar
Bandarban
Rangamati
Khagrachhari
Noakhali
Feni
Laxmipur
Cumilla
Chandpur
BANGLADESH BANK, KHULNA
Khulna
Satkhira
Bagerhat
Jashore
Jhenaidah
Magura
Narail
Gopalganj

See Paragraph 9 Appendix 2
BANGLADESH BANK, BARISHAL
Barishal
Jhalakathi
Barguna
Patuakhali
Pirojpur
Bhola
Shariatpur
Madaripur
BANGLADESH BANK, SYLHET
Sylhet
Sunamganj
Habiganj
Moulvibazar
BANGLADESH BANK, RAJSHAHI
Rajshahi
Natore
Chapainawabganj
Pabna
Kushtia
Meherpur
Chuadanga
BANGLADESH BANK, BOGURA
Bogura.
Joypurhat
Gaibandha
Sirajganj
Naogaon
BANGLADESH BANK, RANGPUR
Rangpur
Nilphamari
Lalmonirhat
Kurigram
Dinajpur
Panchagarh
Thakurgaon

See Paragraph 15 Appendix 3
FORM OF CERTIFICATE TO BE ISSUED BY THE AUTHORISED DEALER IN CASE OF IMPORT ON FOB BASIS/SIMILAR OTHER PERMISSIBLE ARRANGEMENTS WHERE TRANSPORTATION CHARGES ARE TO BE PAID IN BANGLADESH TAKA /OTHER CURRENCY. CERTIFICATE Certified that the amount of freight/transportation charges payable in.............................. (currency name with amount) Eqv. BDT.................. (Amount) as indicated in the Bill of Lading/ Airway Bill No...........................dated the ............................................. corresponding House Bill of Lading No/House Airway Bill No.................................... dated the ............................ in respect of ......................................................................................................................... imported by Messrs ........................................................................... from.............................................................. per s.s ...................................................................................... has been duly endorsed by us ...................................... under our stamp and signature.
Signature of the bank official : ...................................................................................................
Name of the bank official : ...................................................................................................
Designation : ...................................................................................................
P.A No. : ...................................................................................................
Contact Phone No. : ...................................................................................................
Name of the AD : ...................................................................................................
Stamp of the AD : ...................................................................................................
Date : .............................................

See Paragraph 27 Appendix 4
BANGLADESH BANK
FOREIGN EXCHANGE POLICY DEPARTMENT
FORM OF UNDERTAKING
(To be furnished by the importer for making advance remittances for permissible imports of goods and services). In consideration of Bangladesh Bank permitting me/us an advance remittance of ......................................... to............................................................ I/we hereby undertake that the amount so remitted by me/us will be used solely for the purpose of payment for the goods/services described below to be imported into Bangladesh from ....................................in accordance with the regulations in force regarding such imports. I/We declare that the goods/services will be imported by me/us on or about....................................... and I/we undertake to produce to the Bangladesh Bank documentary evidence in respect of goods/services so imported including the authenticated copy of the Customs Bill of Entry for goods and supplier's invoice in original. I/We further declare that the amount paid by me/us in advance will be deducted from the invoice value of the goods (CFR)/services imported and that the deduction will be shown on the invoice. I/We do undertake to be held fully responsible under FER Act, 1947 if I/We fail to produce to the Bangladesh Bank documentary evidence in respect of service or the Exchange Control Copy of the Customs Bill of Entry in respect of goods in original within the stipulated time or bring back the remitted foreign currency into Bangladesh as the case may be. Name and address Invoice Value Description Country of Particulars of of the supplier origin L.C. Authorisation Form Goods Services Goods Services Goods Services Goods Services Signature and Stamp of the Importer Name of the Importer Address Registration Number with CCI & E Date Signature and Stamp of the Authorised Dealer

See Paragraph 31 (3) Appendix 5
……………………………..
(Name of the Bank)
STATEMENT OF CASES WITH MATERIAL DISCREPANCIES BETWEEN PARTICULARS IN IMPORT DOCUMENTS AND IN THE AUTHENTICATED COPY OF BILL OF ENTRY/CUSTOMS CERTIFIED INVOICE AS AT THE
MONTH ENDED ON. .......................................
SL No.
Branch
Name
IMP Form NO.
Importer name with full address
Importer IRC No.
Item of Import
LC no.
&
Date
Invoice Value Amount Remitted Bill of Entry
(If Received)
Over due
Valu e
Source of Foreign
Exchange( cash/ loan/grant etc.)
Month of return
schedule in
which the transaction reportted to
BB
Wheter taken up with the
Importer
(pl. quote letter no.)
Explaination if any submitted by importer
Reason for overdue
Remarks (if any)
AD
Code
Serial
No.
Year
HS
Code
Name
Name of
Currency
Amount
(Eqv.
US$)
Name of
Currency
Amount
(Eqv.
US$)
Date Name of
Currency
Amount
(Eqv.
US$)
Amo unt
(Eqv.
US$)
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
=(14-
17)
19 20 21 22 23 24
To tal
We certify that all outstanding cases of material discrepancies in the import documents including those pending from the previous periods have been listed in the above statement.
Name of the Official : ................................................................. Name of the Official : .................................................................
Designation : ................................................................. Designation : .................................................................
Contact No. : ................................................................. Contact No. : .................................................................

See Paragraph 45(1) Appendix 6
MONTHLY SUMMARY STATEMENT OF OVERDUE ACCEPTED BILLS
FOR THE MONTH OF .............................................
Bank Name ........................................................................................................................................
Sl Nature of bills Number of bills
Bill value in
Remarks equivalent USD
Local Payables
(excluding court case)
Unpaid Local Bills due to court case
Total Local Payables
(1+2)
Foreign Payables
(excluding court case)
Unpaid Foreign Bills due to court case
Total Foreign Payables
(4+5)
Local Receivables
(excluding court case)
Local Bills not received due to court case
Total Local Receivables
(7+8)
Name of Authorised Personnel : ........................ Name of Authorised Personnel : ........................
Designation : ...................................................... Designation : ......................................................
Contact Number : ............................................... Contact Number : ...............................................

See Paragraph 45(2) Appendix 7
MONTHLY STATEMENT OF OVERDUE ACCEPTED BILLS (LOCAL PAYABLES)
FOR THE MONTH OF............................................................
Bank Name : ............................................................................................................................................................................................................................
Sl
No.
Name of the LC
Issuing
Branch
LC/
Contract
Number
Quoted
Currency
LC/
Contract
Value (in quoted currency)
LC/Contract
Date
(dd/mm/yy)
Name of the
LC Advising
Bank &
Branch
Bill No.
Quoted
Currency
Bill
Value
(in quoted
Currency)
Date of Bill
(dd/mm/yy)
Date of
Acceptance
(dd/mm/yy)
Date of
Maturity
(dd/mm/yy)
Delay
Days
Name of the
Importer
Name of the
Exporter
Reason for
Overdue
Comments
(if any)
Total In Quoted Currency X =
Total In Quoted Currency Y =
Grand Total (in equivalent USD) =
Name of Authorised Personnel : .............................................. Name of Authorised Personnel : ..............................................
Designation : .............................................................................. Designation : ..............................................................................
Contact Number : ...................................................................... Contact Number : ......................................................................

See Paragraph 45(3) Appendix 8
MONTHLY STATEMENT OF OVERDUE ACCEPTED BILLS (FOREIGN PAYABLES)
FOR THE MONTH OF............................................................
Bank Name : ............................................................................................................................................................................................................................
Sl
No.
Name of the LC
Issuing
Branch
LC/
Contract
Number
Quoted
Currency
LC/
Contract
Value (in quoted currency)
LC/Contract
Date
(dd/mm/yy)
Name of the
LC Advising
Bank &
Branch
Bill No.
Quoted
Currency
Bill
Value
(in quoted
Currency)
Date of Bill
(dd/mm/yy)
Date of
Acceptance
(dd/mm/yy)
Date of
Maturity
(dd/mm/yy)
Delay
Days
Name of the
Importer
Name of the
Exporter
Reason for
Overdue
Comments
(if any)
Total In Quoted Currency X =
Total In Quoted Currency Y =
Grand Total (in equivalent USD) =
Name of Authorised Personnel : .............................................. Name of Authorised Personnel : ..............................................
Designation : .............................................................................. Designation : ..............................................................................
Contact Number : ...................................................................... Contact Number : ......................................................................

See Paragraph 45(4) Appendix 9
MONTHLY STATEMENT OF OVERDUE ACCEPTED BILLS (LOCAL RECEIVABLES)
FOR THE MONTH OF............................................................
Bank Name : ............................................................................................................................................................................................................................
Sl
No.
Name of the LC
Issuing
Branch
LC/
Contract
Number
Quoted
Currency
LC/
Contract
Value (in quoted currency)
LC/Contract
Date
(dd/mm/yy)
Name of the
LC Advising
Bank &
Branch
Bill No.
Quoted
Currency
Bill
Value
(in quoted
Currency)
Date of Bill
(dd/mm/yy)
Date of
Acceptance
(dd/mm/yy)
Date of
Maturity
(dd/mm/yy)
Delay
Days
Name of the
Importer
Name of the
Exporter
Reason for
Overdue
Comments
(if any)
Total In Quoted Currency X =
Total In Quoted Currency Y =
Grand Total (in equivalent USD) =
Name of Authorised Personnel : .............................................. Name of Authorised Personnel : ..............................................
Designation : .............................................................................. Designation : ..............................................................................
Contact Number : ...................................................................... Contact Number : ......................................................................

See Paragraph 45(5) Appendix 10
Page-01
MONTHLY BANK-WISE SUMMARY STATEMENT OF LOCAL OVERDUE
ACCEPTED BILLS FOR THE MONTH OF ............................................................
Bank Name : ...................................................................................................................................... Sl No. Name of the Banks Total Local Bills Payable Local Bills Receivable Number Value(equv. USD) Number Value(equv. USD) Name of Authorised Personnel : Name of Authorised Personnel :
Designation : ................................. Designation : ..................................
Contact Number :.......................... Contact Number : ...........................

See Paragraph 47 Appendix 11

Appendix 11 See Paragraph 47

See Paragraph 71 Appendix 12
BANGLADESH BANK
NOTIFICATION N0. FE-1/16-BB
DATED JANUARY 20, 2016
(MAGH 07, 1422)
IMPORT OF GOLD
In exercise of the powers conferred by Section 8(1) of the Foreign Exchange Regulation Act, 1947 (VII of 1947) read with the erstwhile Central Government Notification No. l(2)-ECS/48 dated July 01, 1948, and in supersession of Bangladesh Bank's Notification No. FE-l/96-BB dated January 14, 1996, Bangladesh Bank has decided that incoming passengers irrespective of their resident status may bring into Bangladesh gold or silver in bullion/ingot form up to the prescribed limit in terms of relevant Baggage Rules in force issued under the Customs Act, 1969. (Nazneen Sultana) Deputy Governor

See Paragraph 75 (1) Appendix 13

See Paragraph 75(1) Appendix 14

See Paragraph 75(1)(b) Appendix 15

See Paragraph 75 (1)(b) Page-2 Appendix 15
Information for Declarant
(‡NvlYvKvixi Rb¨ ÁvZe¨)

An incoming/outgoing passenger may bring in/take out upto Taka 10,000(Ten thousand) in
Bangladesh currency at the time of arrival into/departure from Bangladesh. 1| evsjv‡‡k AvMgb/evsjv‡k nB‡Z ewnM©gbKv‡j †Kvb e¨w³ evsjv‡kx gyªv AbwaK 10,000(`k nvRvi) UvKv Avwb‡Z/jBqv hvB‡Z cvwi‡eb|
Any amount of foreign currency may be brought in by an incoming passenger with
declaration to the customs authorities in Form FMJ. No declaration, however, is necessary for amounts brought in upto US$ 10,000(Ten thousand) or equivalent. For a foreigner, the entire amount brought in with declaration or upto US$ 10,000(Ten thousand) brought in without declaration may be taken out freely at the time of departure. Upto US$ 10,000(Ten thousand) brought in without declaration by a Bangladeshi may also be retained and taken out freely while proceeding abroad. Amount in excess of US$ 10,000(Ten thousand) brought in by the resident Bangladeshis, should, however, be encashed or deposited in appropriate foreign currency account within 30 (thirty) days of arrival. Such amounts brought in by nonresident Bangladeshis can be encashed or deposited in foreign currency account any time after return to Bangladesh. 2| ïé KZ…©c‡ÿi wbKU GdGg‡R di‡g †NvlYv cÖvb Kwiqv †h †Kvb cwigvY •e‡wkK gyªv evsjv‡‡k AvMgbKv‡j m‡½ Avbv hvB‡Z cv‡i| Z‡e AvbxZ •e‡wkK gyªvi cwigvY AbwaK gvtWt 10000(k nvRvi) ev mgZzj¨ nB‡j ïé KZ…©c‡ÿi wbKU †NvlYv cÖvb Avek¨K nB‡e bv| we‡kxM‡Yi †ÿ‡Î †NvlYv cÖvb Kwiqv AvbxZ mgyq •e‡wkK gyªv Ges †NvlYv cÖvb e¨wZ‡i‡K AvbxZ AbwaK gvtWt 10000(k nvRvi) evsjv‡k Z¨vMKv‡j Aev‡a cÖZ¨vevmb‡hvM¨ nB‡e| †NvlYv cÖvb e¨wZ‡i‡K AvbxZ AbwaK gvtWt 10000(k nvRvi) evsjv‡kx bvMwiKM‡Yi †ÿ‡ÎI m‡½ iÿY‡hvM¨ Ges evsjv‡k nB‡Z ewn©MgbKv‡j m‡½ enb‡hvM¨ nB‡e; GZ&wZwi³ †h †Kvb AsK wbevmx evsjv‡kx‡i †ÿ‡Î evsjv‡‡k AvMg‡bi 30 (wÎk) w‡bi g‡a¨ UvKvq fv½vB‡Z/cÖ‡hvR¨ ai‡Yi •e‡wkK gyªv wnmv‡e Rgv Kwi‡Z nB‡e| Awbevmx evsjv‡kx KZ…©K AvbxZ GBiƒc AsK evsjv‡‡k †diZ Avwmevi ci †h †Kvb mgq UvKvq fv½vB‡Z cvwi‡eb A_ev •e‡wkK gy`ªv wnmv‡e Rgv Kwi‡Z cvwi‡eb|
Encashment of foreign exchange brought in should be done with licenced Money Changers/
Authorised Dealer bank branches.
3| m‡½ AvbxZ •e‡wkK gyªv UvKvq bMvqb jvB‡mÝ cÖvß gvwb‡PÄvi/Aby‡gvwZ wWjvi e¨vsK kvLvi gva¨‡g m¤úv`b Kwi‡Z nB‡e|
An incoming/outgoing adult female passenger may bring in/take out any quantity of
personal jewellery worn on her person or as part of her accompanying personal baggage. 4| evsjv‡‡k AvMgb/evsjv‡k nB‡Z ewnM©gbKv‡j †Kvb cÖvß eq¯‹v gwnjv hvÎx ¯^xq cwiav‡b A_ev e¨w³MZ e¨v‡M‡Ri Askiƒ‡c †h †Kvb cwigvY e¨w³MZ AjsKvivw` m‡½ Avwb‡Z/jBqv hvB‡Z cvwi‡eb|

See Paragraph 75 (1)(b) Appendix 15

See Paragraph 75 (1)(b) Page-2 Appendix 15
Information for Declarant
(‡NvlYvKvixi Rb¨ ÁvZe¨)

An incoming/outgoing passenger may bring in/take out upto Taka 10,000(Ten thousand) in
Bangladesh currency at the time of arrival into/departure from Bangladesh. 1| evsjv‡‡k AvMgb/evsjv‡k nB‡Z ewnM©gbKv‡j †Kvb e¨w³ evsjv‡kx gyªv AbwaK 10,000(`k nvRvi) UvKv Avwb‡Z/jBqv hvB‡Z cvwi‡eb|
Any amount of foreign currency may be brought in by an incoming passenger with
declaration to the customs authorities in Form FMJ. No declaration, however, is necessary for amounts brought in upto US$ 10,000(Ten thousand) or equivalent. For a foreigner, the entire amount brought in with declaration or upto US$ 10,000(Ten thousand) brought in without declaration may be taken out freely at the time of departure. Upto US$ 10,000(Ten thousand) brought in without declaration by a Bangladeshi may also be retained and taken out freely while proceeding abroad. Amount in excess of US$ 10,000(Ten thousand) brought in by the resident Bangladeshis, should, however, be encashed or deposited in appropriate foreign currency account within 30 (thirty) days of arrival. Such amounts brought in by nonresident Bangladeshis can be encashed or deposited in foreign currency account any time after return to Bangladesh. 2| ïé KZ…©c‡ÿi wbKU GdGg‡R di‡g †NvlYv cÖvb Kwiqv †h †Kvb cwigvY •e‡wkK gyªv evsjv‡‡k AvMgbKv‡j m‡½ Avbv hvB‡Z cv‡i| Z‡e AvbxZ •e‡wkK gyªvi cwigvY AbwaK gvtWt 10000(k nvRvi) ev mgZzj¨ nB‡j ïé KZ…©c‡ÿi wbKU †NvlYv cÖvb Avek¨K nB‡e bv| we‡kxM‡Yi †ÿ‡Î †NvlYv cÖvb Kwiqv AvbxZ mgyq •e‡wkK gyªv Ges †NvlYv cÖvb e¨wZ‡i‡K AvbxZ AbwaK gvtWt 10000(k nvRvi) evsjv‡k Z¨vMKv‡j Aev‡a cÖZ¨vevmb‡hvM¨ nB‡e| †NvlYv cÖvb e¨wZ‡i‡K AvbxZ AbwaK gvtWt 10000(k nvRvi) evsjv‡kx bvMwiKM‡Yi †ÿ‡ÎI m‡½ iÿY‡hvM¨ Ges evsjv‡k nB‡Z ewn©MgbKv‡j m‡½ enb‡hvM¨ nB‡e; GZ&wZwi³ †h †Kvb AsK wbevmx evsjv‡kx‡i †ÿ‡Î evsjv‡‡k AvMg‡bi 30 (wÎk) w‡bi g‡a¨ UvKvq fv½vB‡Z/cÖ‡hvR¨ ai‡Yi •e‡wkK gyªv wnmv‡e Rgv Kwi‡Z nB‡e| Awbevmx evsjv‡kx KZ…©K AvbxZ GBiƒc AsK evsjv‡‡k †diZ Avwmevi ci †h †Kvb mgq UvKvq fv½vB‡Z cvwi‡eb A_ev •e‡wkK gy`ªv wnmv‡e Rgv Kwi‡Z cvwi‡eb|
Encashment of foreign exchange brought in should be done with licenced Money Changers/
Authorised Dealer bank branches.
3| m‡½ AvbxZ •e‡wkK gyªv UvKvq bMvqb jvB‡mÝ cÖvß gvwb‡PÄvi/Aby‡gvwZ wWjvi e¨vsK kvLvi gva¨‡g m¤úv`b Kwi‡Z nB‡e|
An incoming/outgoing adult female passenger may bring in/take out any quantity of
personal jewellery worn on her person or as part of her accompanying personal baggage. 4| evsjv‡‡k AvMgb/evsjv‡k nB‡Z ewnM©gbKv‡j †Kvb cÖvß eq¯‹v gwnjv hvÎx ¯^xq cwiav‡b A_ev e¨w³MZ e¨v‡M‡Ri Askiƒ‡c †h †Kvb cwigvY e¨w³MZ AjsKvivw` m‡½ Avwb‡Z/jBqv hvB‡Z cvwi‡eb|

See Paragraph 75 (1)(b) Appendix 15

See Paragraph 75 (1)(b) Page-2 Appendix 15
Information for Declarant
(‡NvlYvKvixi Rb¨ ÁvZe¨)

An incoming/outgoing passenger may bring in/take out upto Taka 10,000(Ten thousand) in
Bangladesh currency at the time of arrival into/departure from Bangladesh. 1| evsjv‡‡k AvMgb/evsjv‡k nB‡Z ewnM©gbKv‡j †Kvb e¨w³ evsjv‡kx gyªv AbwaK 10,000(`k nvRvi) UvKv Avwb‡Z/jBqv hvB‡Z cvwi‡eb|
Any amount of foreign currency may be brought in by an incoming passenger with
declaration to the customs authorities in Form FMJ. No declaration, however, is necessary for amounts brought in upto US$ 10,000(Ten thousand) or equivalent. For a foreigner, the entire amount brought in with declaration or upto US$ 10,000(Ten thousand) brought in without declaration may be taken out freely at the time of departure. Upto US$ 10,000(Ten thousand) brought in without declaration by a Bangladeshi may also be retained and taken out freely while proceeding abroad. Amount in excess of US$ 10,000(Ten thousand) brought in by the resident Bangladeshis, should, however, be encashed or deposited in appropriate foreign currency account within 30 (thirty) days of arrival. Such amounts brought in by nonresident Bangladeshis can be encashed or deposited in foreign currency account any time after return to Bangladesh. 2| ïé KZ…©c‡ÿi wbKU GdGg‡R di‡g †NvlYv cÖvb Kwiqv †h †Kvb cwigvY •e‡wkK gyªv evsjv‡‡k AvMgbKv‡j m‡½ Avbv hvB‡Z cv‡i| Z‡e AvbxZ •e‡wkK gyªvi cwigvY AbwaK gvtWt 10000(k nvRvi) ev mgZzj¨ nB‡j ïé KZ…©c‡ÿi wbKU †NvlYv cÖvb Avek¨K nB‡e bv| we‡kxM‡Yi †ÿ‡Î †NvlYv cÖvb Kwiqv AvbxZ mgyq •e‡wkK gyªv Ges †NvlYv cÖvb e¨wZ‡i‡K AvbxZ AbwaK gvtWt 10000(k nvRvi) evsjv‡k Z¨vMKv‡j Aev‡a cÖZ¨vevmb‡hvM¨ nB‡e| †NvlYv cÖvb e¨wZ‡i‡K AvbxZ AbwaK gvtWt 10000(k nvRvi) evsjv‡kx bvMwiKM‡Yi †ÿ‡ÎI m‡½ iÿY‡hvM¨ Ges evsjv‡k nB‡Z ewn©MgbKv‡j m‡½ enb‡hvM¨ nB‡e; GZ&wZwi³ †h †Kvb AsK wbevmx evsjv‡kx‡i †ÿ‡Î evsjv‡‡k AvMg‡bi 30 (wÎk) w‡bi g‡a¨ UvKvq fv½vB‡Z/cÖ‡hvR¨ ai‡Yi •e‡wkK gyªv wnmv‡e Rgv Kwi‡Z nB‡e| Awbevmx evsjv‡kx KZ…©K AvbxZ GBiƒc AsK evsjv‡‡k †diZ Avwmevi ci †h †Kvb mgq UvKvq fv½vB‡Z cvwi‡eb A_ev •e‡wkK gy`ªv wnmv‡e Rgv Kwi‡Z cvwi‡eb|
Encashment of foreign exchange brought in should be done with licenced Money Changers/
Authorised Dealer bank branches.
3| m‡½ AvbxZ •e‡wkK gyªv UvKvq bMvqb jvB‡mÝ cÖvß gvwb‡PÄvi/Aby‡gvwZ wWjvi e¨vsK kvLvi gva¨‡g m¤úv`b Kwi‡Z nB‡e|
An incoming/outgoing adult female passenger may bring in/take out any quantity of
personal jewellery worn on her person or as part of her accompanying personal baggage. 4| evsjv‡‡k AvMgb/evsjv‡k nB‡Z ewnM©gbKv‡j †Kvb cÖvß eq¯‹v gwnjv hvÎx ¯^xq cwiav‡b A_ev e¨w³MZ e¨v‡M‡Ri Askiƒ‡c †h †Kvb cwigvY e¨w³MZ AjsKvivw` m‡½ Avwb‡Z/jBqv hvB‡Z cvwi‡eb|

See Paragraph 83(2)(a) Appendix 16

See Paragraph 83(2)(b)
Appendix 17

See Paragraph 83(3) Appendix 18

FEPD Circular No. 33: Foreign Exchange Regulations regarding Import Transactions

Lineage: Amended

Timeline