Regulatory Alerts2025-07-31
Added
Foreign exchange regulations - export trade transactions
Bangladesh Bank repeals existing instructions regarding export transactions in the Guidelines for Foreign Exchange Transactions-2018 (GFET), Vol.-1 and subsequent circulars, replacing them with this consolidated circular valid for one year. The document mandates that Authorized Dealers ensure exporters are registered under the Importers, Exporters and Indentors (Registration) Order, 2023, and observe international trade rules such as UCP and Incoterms. It establishes a four-month prescribed period for repatriating export proceeds, extending to 360 days for raw jute and jute goods under specific terms, while exempting certain low-value e-commerce exports up to USD 500 from declaration requirements. Additionally, it introduces electronic EXP Form procedures via the Online Export Monitoring System and sets out detailed guidelines for shipping documents, retention of foreign currency in ERQ accounts, and compliance with AML/CFT standards.