Online reporting of import information to Bangladesh Bank web portal

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No.24 Date: July 14, 2022 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Online reporting of import information to Bangladesh Bank web portal Please refer to paragraph 4(ii) chapter 1 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Vol-1 in terms of which Authorized Dealers (ADs) are required to report all types of their foreign exchange transactions carried out by them, including those of offshore banking operations to the different web portals of Bangladesh Bank on regular basis. 02. As a part of import monitoring, ADs are advised to submit import information to Bangladesh Bank Online Import Monitoring System (OIMS) 24 hours prior to opening letters of credit (LCs) based on proforma invoices/purchase contracts. The reporting requirement for the said transactions will be for import value of USD 5.00 million and above or its equivalent, excluding imports by the Government. ADs shall finalize the report on completion of opening of the relative LCs. Please bring the above decision, effective immediately, to all your AD branches including central trade processing centers and offshore banking operations for its meticulous compliance. Yours faithfully, (Md. Sarwar Hossain) Director (FEPD) Phone: 9530123