FEPD Circular No. 39: To avail 360 days deferred payment facility to import 04 basic raw materials of steel industry for their own use

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka-1000.
Ref. No. FEPD Circular No. 39 Date: -------------- 15 November, 2017

To,
All Approved Dealer Banks engaged in Foreign Exchange Transactions Head Office / Principal Office.

Dear Sir,

Subject: Regarding establishment of Letter of Credit for 360 days deferred payment facility for import of 04 basic raw materials used in production of Tin and Rod included in Steel Industry.

Attention is drawn to Section 33(A) of Chapter-7 of Guidelines for Foreign Exchange Transactions (GFET)-2009, Volume-1, where approved dealer banks are authorized to establish Letter of Credit for 180 days deferred payment facility for import of raw materials for use in their own industrial establishments.

2. It is decided that the four basic raw materials used in the production of Tin (Iron Sheet) and Rod included in the Steel Industry, namely: Hot Rolled Coil, Scrap, Pig Iron, and Sponge Iron, can be imported with a maximum 360 days deferred payment facility for use in their own factories. This is to inform you.

3. This directive will take effect immediately and you are requested to inform all concerned parties about this matter.

Yours faithfully,

(Md. Abdul Mannan)
Deputy General Manager
Phone: 9530319