Regulatory Alerts2020-03-19
Added · Updated
Relaxation of foreign exchange regulations for trade transactions-extended facilities
Authorized Dealers in Foreign Exchange in Bangladesh may allow exporters and importers to extend realization and bill of entry submission tenures by up to 60 days beyond the standard four-month periods for bona fide grounds. The circular also permits extending the usance period of back-to-back letters of credit to 180 days, extending Export Development Fund loans to 180 days, and allowing exporters to repatriate bills at a discount up to 10 percent of FOB value without prior approval. Authorized Dealers must immediately intimate the Foreign Exchange Operation Department with details of these extensions and apply for discounted proceeds within 15 days. These facilities are applicable until September 30, 2020.
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