Regulatory Alerts2016-06-16
Added · Updated
FEPD Letter No. 5373: General Instructions for Banks to Open LC in Foreign Currency against Supply of Goods in FC under International Tender
Approved dealer banks are authorized to establish domestic foreign currency letters of credit in favor of local contractors for the implementation of purchase orders related to international tenders. Payments against these letters of credit must be settled through Foreign Currency Clearing accounts held at Bangladesh Bank. Funds received for bill values may be retained in foreign currency for up to 30 days to cover necessary import expenses in accordance with Chapter 7, Paragraph 39(ii) of the Guidelines for Foreign Exchange Transactions-2009.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.
Topics
fx
credit
Share