Regulatory Alerts2016-06-07
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FEPD Letter No. 5092: Transaction with branch office or liaison office or representative office or any other place of business in Bangladesh established under Section 18B(1) of the Foreign Exchange Regulation Act, 1947
Authorized Dealer Banks must maintain a list of clients that are branch, representative, or liaison offices nominated by them. These banks are required to report permissions from the Board of Investment or similar authorities for setting up such offices to the Foreign Exchange Investment Department within thirty days of obtaining permission, including renewals. Additionally, when a nominated office changes its Authorized Dealer, it must obtain a no objection certificate from the current bank and intimate the change to the relevant Foreign Exchange Investment and Operation Departments.
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