Regulatory Alerts2020-09-21
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FEPD Circular No. 38: Import of Onion on deferred/usance basis
Authorized Dealers in Foreign Exchange in Bangladesh are permitted to open Letters of Credit for onion imports on a 90-day deferred or usance basis under supplier’s or buyer’s credit terms. This authorization is effective until December 31, 2020, and existing instructions regarding such imports remain unchanged.
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
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