Regulatory Alerts2022-09-15
Added
Regulatory framework on repatriation of export proceeds and compliance thereof
Authorized Dealers in Bangladesh must observe instructions from FE Circular No. 30, dated August 16, 2017, and Circular Letter No. 31, dated December 02, 2019, when processing applications for cash incentives. Additionally, Authorized Dealers are required to comply with the instructions in paragraph 4(ii) at FE Circular No. 45, dated December 31, 2017, before submitting applications for EDF loans. These entities must adhere to the repatriation of export proceeds guidelines referenced in paragraph 13, chapter 8 of the Guidelines for Foreign Exchange Transactions-2018, Vol.1, prior to processing applications for relevant benefits.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 34 Date: September 15, 2022 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Regulatory framework on repatriation of export proceeds and compliance thereof Please refer to paragraph 13, chapter 8 of the Guidelines for Foreign Exchange Transactions-2018, Vol.1 (GFET) regarding repatriation of export proceeds within statutory period. 02. Authorized Dealers (ADs) need to observe the instructions contained at FE Circular No. 30, dated August 16, 2017 and Circular Letter No. 31, dated December 02, 2019 for processing applications for cash incentives. Before submitting applications for EDF loans, ADs are required to comply with the instructions of paragraph 4(ii) at FE Circular No. 45, dated December 31, 2017. ADs are advised to adhere to the instructions regarding repatriation of export proceeds before processing of applications for availing relevant benefits. Yours faithfully, (Md. Sarwar Hossain) Director (FEPD) Phone: 9530123