Regulatory Alerts2016-08-28
Added · Updated
FEPD Letter No. 220/2016-7374: Transfer of 0.03% of Export Proceeds from 100% Export-Oriented Garment Industries to Central Fund Account at Sonali Bank Ltd.
Approved Dealer Banks must ensure that 0.03% of the realized export proceeds from 100% export-oriented garment industries is deducted and transferred to the Central Fund account maintained at Sonali Bank Ltd., Ramna Corporate Branch. Banks are required to submit a monthly report of the deposited amounts, or a zero report if no deduction was made, to the Secretary of the Central Fund Management Board by the 7th of the following month. This directive enforces compliance with previous instructions issued on June 12, 2016, and addresses instances where banks failed to deduct funds or submit necessary reports.
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