RegAlert
2022-04-20

Added · Updated

Screening of underlying export shipments through vessel/container tracking

Authorized Dealers in Foreign Exchange in Bangladesh must conduct shipment tracking for all export transactions using a system recognized by the competent authority. This requirement applies to all cases and is effective immediately. The instruction is issued under section 20(3) of the Foreign Exchange Regulation Act, 1947.

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Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular No. 07 Date: April 20, 2022
All Authorized Dealers in
Foreign Exchange in Bangladesh
Dear Sirs,
Screening of underlying export shipments through vessel/container tracking Please refer to FE Circular No. 12 of March 19, 2020 and FE Circular No. 14 of March 29, 2021 regarding tracking of export shipments. Shipment tracking charges are remittable as per FE Circular No. 31 of July 26, 2020. On the other hand, ADs are advised to establish vessel tracking system, among others, under Infrastructure Level Risk Assessment of Guidelines for Prevention of Trade Based Money Laundering issued by Bangladesh Financial Intelligence Unit (BFIU).
02. To ensure safeguards of export transactions, it has been decided that ADs shall
conduct the tracking of shipments in all cases through tracking system recognized by competent authority for relevant trade transactions. Please bring the above instructions, effective immediately, to the notice of your constituents concerned. The instructions of this circular have been issued under section 20(3) of the Foreign Exchange Regulation Act, 1947 and are without prejudice to permissions/ approvals, if any, required under any other law. Other relevant instructions regarding trade transactions shall remain unchanged. Yours faithfully, (Kazi Rafiqul Hassan) General Manager Phone: 9530123

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Lineage: In force

Foreign Exchange Regulation Act…1947Foreign Exchange Regulation Act, 1947 (1947-03-11)FEPD Circular No. 31: Outward r…2020FEPD Circular No. 31: Outward remittances on account of shipment tracking charges (2020-07-26)Screening of underlying exportshipments through vessel/cont…2022-04-20 · this documentScreening of underlying export shipments through vessel/container tracking (2022-04-20)FEPD Circular No. 09: Screening…2022FEPD Circular No. 09: Screening of underlying import shipments through vessel/container tracking (2022-05-17)
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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

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