Regulatory Alerts2019-05-16
Added · Updated
Foreign Exchange Transactions by the Enterprises of Hi-Tech Parks (HTPs) in Bangladesh
This circular establishes separate foreign exchange instructions for Authorized Dealers and Off-shore Banking Units regarding enterprises located in Hi-Tech Parks established by the Bangladesh Hi-Tech Park Authority. It categorizes these enterprises into Type A (100% foreign owned), Type B (joint venture), and Type C (100% Bangladeshi owned), and permits Type A and Type B units to open foreign currency accounts without prior permission. The document allows Type C enterprises to convert local currency equity or loans into foreign exchange for importing capital machinery and permits the remittance of dividends, disinvestment proceeds, and technical fees up to specified limits without prior approval from Bangladesh Bank.
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