FEPD Circular No. 34: Export Development Fund (EDF)

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No. 34 Date: September 16, 2014 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Export Development Fund (EDF) Please refer to paragraph 2 of FE Circular No. 13, dated October 10, 2013 in terms of which Authorized Dealers (ADs) may borrow loan from EDF against their foreign currency loan to member mills of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) for input imports in bulk based on the value realized in foreign exchange against inland back to back LCs over the past twelve months, or (ii) USD 500,000 whichever is lower. 02. It has been decided to enhance the limit to USD 1.00 million based on their local deliveries and exports. Hence an EDF loan to an AD against their foreign currency financing of input imports for a BPGMEA member mill shall not exceed (i) the value realized in foreign exchange against inland back to back LCs and export LCs/Contracts over the past twelve months, or (ii) USD 1.00 (one million), whichever is lower. Please bring the content of this circular to the notice of all concerned. Yours faithfully, (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250