Screening of underlying export shipments through vessel/container tracking

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