FEPD Circular No. 38: Import of Onion on deferred/usance basis

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular No. 38 Date: September 21, 2020

All Authorized Dealers in
Foreign Exchange in Bangladesh

Dear Sirs,
Import of Onion on deferred/usance basis.
Please refer to paragraph 33(a), chapter-7 of the Guidelines for Foreign Exchange Transactions (GFET) -2018, Vol-1 and its subsequent circulars in terms of which import of specified goods is permissible on deferred/usance basis under supplier’s/buyer’s credit terms.
2. To facilitate uninterrupted supply and stabilize the price of onion in commodity
market, it has been decided that Authorized Dealers (ADs) may open Letters of Credit (LCs) for imports of onion on 90 days deferred/usance basis under supplier’s/buyer’s credit terms. Other relevant instructions in this context shall remain unchanged. Please bring the contents of this circular, effective till December 31,2020 to the notice of your concerned clientele.

Yours faithfully,
(Mohammad Khurshid Wahab)
General Manager
Phone: 9530123