Regulatory Alerts2023-02-16
Added · Updated
SD Circular Letter No. 02: Regarding data submission of Foreign Direct Investment according to new time schedule
The document amends the submission deadlines for Foreign Direct Investment (FDI) reporting forms. FDI recipient and outward FDI sending institutions must now submit complete reporting forms (Form FI-1 and Form FI-2) with supporting documents to their authorized dealer banks within 20 days of the end of each quarter, replacing the previous one-month deadline. Additionally, authorized dealer banks must submit the verified data via the Web Portal and hard copies to the Statistics Department's FDI Management Cell within one month of the end of each quarter, replacing the previous 15-day deadline. These new time schedules become effective for the quarterly period of January-March 2023.
Bangladesh Bank
(Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh.
SD Circular Letter No. 02/2023
Date: 3 Falgun, 1429 16 February, 2023
Managing Director/Chief Executive All Approved Dealer Banks operating in Bangladesh and their Offshore Banking Units
Dear Sir,
Submission of data regarding Foreign Direct Investment (FDI) according to the new time schedule.
With reference to SD Circular No. -03/2014, dated 4 May 12, 2014 and SD Circular Letter No. -03, dated 4 October 15, 2015, it is informed that:
a) All FDI receiving customer institutions (100% foreign and joint ownership) must submit the complete FDI Reporting Form (Form FI-1) with relevant supporting documents, and all Outward FDI sending institutions must submit the complete FDI Reporting Form (Form FI-2) with relevant supporting documents (including quarterly financial statements, documents of included and excluded remittances, etc.) to their respective Authorized Dealer Banks (Reporting Banks) within 20 (twenty) days, instead of the previously specified 01 (one) month after each quarter, in accordance with the time limits mentioned in the aforementioned circulars;
b) After verification and processing by the Authorized Dealer Bank (Reporting Bank), the data of included and excluded Foreign Direct Investment (Inward and Outward FDI) from the submitted FDI Reporting Forms (Form FI-1) of all FDI receiving customer institutions and the submitted FDI Reporting Forms (Form FI-2) of all Outward FDI sending institutions must be submitted to the FDI Management Cell of the Statistics Department of Bangladesh Bank, along with the hard copy of the FDI Reporting Form, via the relevant Rationalized Input Template (RIT) - Web Portal within 01 (one) month after each quarter, instead of the previously specified 15 (fifteen) days of 01 (one) month, in accordance with the time limits mentioned in the aforementioned circulars.
The other instructions of the aforementioned circulars shall remain unchanged, and these instructions shall be effective from the next quarter (January-March, 2023).
Please acknowledge receipt and inform all relevant FDI receiving/sending customer institutions of this matter.
Yours faithfully, (Munal Kanti Sarkar) Director (Statistics) Phone No: 95730134
Phone: 88-02-95730130-75, 95737700-59, IP-8802-55665501-200, Fax: 88-02-95666212, www.bb.org.bd