Regulatory Alerts2012-12-10
Added · Updated
Post facto approval for settlement of import payment under back to back letter of credit through local sources
Authorized Dealers must submit applications for post facto approval to Bangladesh Bank within 15 days of the month following the settlement of import payments under back to back letters of credit through local sources. This requirement applies to payments settled fully or partially from local sources, as referenced in paragraph 38, chapter 7 of the Guidelines for Foreign Exchange Transactions-2009. The directive addresses delays in forwarding such applications and mandates compliance with the specified submission timeline.
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