RegAlert2012-12-09
Added · Updated
Online reporting of foreign exchange transactions
Authorized Dealer Banks in Bangladesh must report all types of their foreign exchange transactions, including those through inland back to back letters of credit, on a daily basis through the Bangladesh Bank web portal starting January 01, 2013. This online reporting requirement applies to the Foreign Exchange Operation Department and supplements existing obligations to submit statements and returns in accordance with the Guidelines for Foreign Exchange Transactions and subsequent circulars until further direction.
Get BB alerts — same-day email on every new publication.
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
Circular Letter No.FEPD(Export)220/2012-26 Date: December 09, 2012 Head Offices/Principal Offices of All Authorized Dealer Banks in Bangladesh Dear Sirs, Online reporting of foreign exchange transactions Please refer to the Guidelines for Foreign Exchange Transactions (GFET), Vol-1 & 2 and subsequent FE Circulars/Circular letters in terms of which Authorized Dealers (ADs) submit several statements/returns to Bangladesh Bank.
02. Bangladesh Bank has taken initiative to receive online statements through its web
portal. As part of this program, Foreign Exchange Operation Department (FEOD) has already started monitoring export transactions through online reports submitted by ADs. In addition to export transactions, Bangladesh Bank has developed online reporting system for all types of cross border foreign exchange transactions including foreign exchange transactions through inland back to back letters of credit. ADs are, therefore, advised to report all types of their foreign exchange transactions carried out from January 01, 2013 to FEOD, Bangladesh Bank on daily basis through web portal.
03. As usual, ADs shall continue submission of statements/returns to Bangladesh Bank in
accordance with the directives contained in the GFET and subsequent circulars until further direction. Please bring the instructions to the notice of all concerned. Yours faithfully, (Md. Golam Haider) Deputy General Manager Phone: 9530092
Read the rest free
Lineage: In force
Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from BB
We email you every new BB publication the day it's published.
FX rules change often. Get an email the day any regulator we track changes its foreign-exchange rules.