SD Circular No. 01: Allocation of new codes for invisible receipts and payments in foreign exchange reporting

Statistics Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
St.D. Circular No. 1 Date: February 27, 2014 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Allocation of new codes regarding invisible receipts (Code-5) and Invisible Payments (Code-7) for foreign exchange reporting in the guideline titled “Code lists for Reporting of external sector transactions by the authorized dealers” Attention of the Authorized Dealers (ADs) is drawn to F.E. Circular No. 03 Dated February 04, 2013 regarding reporting of discounting of direct/deemed export bills credit, F.E. Circular No. 07 Dated February 16, 2014 regarding reporting of import transactions under buyers’ credits/suppliers’ credits and matching of bill of entry. And also regarding reporting of import related freights, insurance and other charges.
02. In order to facilitate separate reporting for drawings, principal repayments and interest payments
against discounting of direct/deemed export bills, new codes have been allocated in the chapter Invisible Receipts (Code-5) and Invisible Payments (Code-7) of the guideline titled “Code lists for reporting of external sector transactions by the authorized dealers” (New codes attached).
03. In order to facilitate separate reporting for drawings, principal payments and interest payments
against import transactions under buyers’ credits/suppliers’ credits/approved external credits, new codes have been allocated in the chapter Invisible Receipts (Code-5) and Invisible Payments (Code-7) of the guideline titled “Code lists for reporting of external sector transactions by the authorized dealers” (New codes attached).
04. In order to facilitate separate reporting for import related freight, insurance and other charges
against CFR based imports to account actual import costs, new codes have been allocated in the
chapter Invisible Receipts (Code-5) and Invisible Payments (Code-7) of the guideline titled “Code lists for
reporting of external sector transactions by the authorized dealers” (New codes attached). All ADs have been requested to report to Bangladesh Bank as per the new codes allocated (Annexure-A, Annexure-B). Please bring the contents of this circular to the notice of all concerned. Yours faithfully, Enclosure: As stated (Md. Mohibullah Mia) Deputy General Manager Phone: 9530087

Annexure-A
Code-5
INVISIBLE RECEIPTS
Code
No.
Purpose Explanatory Notes
0 TRANSPORTATION
002 Freight -Sea Transport
0020 Surplus freight remittances received by Bangladesh shipping corporation 0021 Charters, rentals of ships (with crew) received by Bangladesh shipping corporation 0022 Surplus freight remittances received by Bangladeshi shipping companies 0023 Charters, rentals of ships (with crew) received by Bangladeshi shipping companies 0024 Freight remittances under all contractual arrangements between the parties. Freight remittances under all contractual arrangements between the parties (exporter and importer) i.e. Freight of goods as being provided by the actual provider and payable by the actual invoice party (seller/buyer )on FOB/CFR/CIF basis export /import out of rentals, charters for carriage of goods is shown in this code 012 Freight -Air Transport 0120 Surplus remittances of freight services received by Bangladesh Biman 0121 Charters, rentals of Bangladesh Biman (with crew) 0122 Surplus remittances of freight services received by Bangladeshi aircrafts (Private) 0123 Charters, rentals of Bangladeshi aircrafts (with crew) -Private 0124 Freight remittances under all contractual arrangements between the parties. Freight remittances under all contractual arrangements between the parties (exporter and importer) i.e. Freight of goods as being provided by the actual provider and payable by the actual invoice party (seller/buyer )on FOB/CFR/CIF basis export /import out of rentals, charters for carriage of goods is shown in this code 022 Freight -Rail Transport 0220 Surplus remittances of freight services 0221 Freight remittances under all contractual arrangements between the parties. Freight remittances under all contractual arrangements between the parties (exporter and importer) i.e. Freight of goods as being provided by the actual provider and payable by the actual invoice party (seller/buyer )on FOB/CFR/CIF basis export /import out of rentals, charters for carriage of goods is shown in this code 032 Freight -Road Transport 0320 Surplus remittances of freight services

Code
No.
Purpose Explanatory Notes
0321 Freight remittances under all contractual arrangements between the parties. Freight remittances under all contractual arrangements between the parties (exporter and importer) i.e. Freight of goods as being provided by the actual provider and payable by the actual invoice party (seller/buyer )on FOB/CFR/CIF basis export /import out of rentals, charters for carriage of goods is shown in this code 224 Freight Insurance (Merchandise) 2240 Freight Insurance Services Receipts on account of freight insurance premiums/ claims etc. receivable on international traded goods. i.e. premium related services, claims related services etc. for merchandise or freight-insurance for movable goods during the course of shipment. Freight insurance which is a form of nonlife insurance that raises particular issues for valuation of goods. Like freight transport, the identification of who pays the insurance and whether it is included in the price of good is determined by the FOB valuation concept. 9 OTHER INVESTMENT 90 Long Term Loans 901 General Government 9010 Drawings on long term loans in cash (other than IMF) 9011 Received of loans/credit extended by resident government 9012 Drawings on long term loans on account of suppliers' credit Drawings on long term loans on account of suppliers' credit by the Public sectors. 902 Deposit taking corporations ( Only schedule Banks), except central bank 9020 Drawings on long term loans 9021 Received on long-term loans extended 903 Other sectors : Other financial and non- corporations 9030 Drawings on long term loans (financial corporations) 9031 Received on long-term loans extended ( financial corporations) 9032 Drawings on long term loans (Other non-financial corporations) 9033 Received on long-term loans extended (Other non-financial corporations) 9034 Drawings on long term loans on account of suppliers' credit ((Other non-financial corporations) Drawings on long term loans on account of suppliers' credit by the other non￾financial corporations. 91 Short-term Loans 911 General government 9110 Drawings on short term loans in cash (other than IMF) 9111 Received on short term loans/ credit extended 9112 Drawings short-term loans on account of government sectors buyers' credit/ approved external credits Drawings short-term loans on account of government sectors buyers' credit/ approved external credits (i.e. IDB/ITFC..etc.) by the BPC or the other public sectors.

Code
No.
Purpose Explanatory Notes
912 Deposit taking corporations
( Only schedule Banks), except central bank 9120 Drawings on short term loans 9121 Received on short-term loans extended 913 Other sectors -Other financial and non- corporations 9130 Drawings on short term loans ( financial corporations) 9131 Received on short-term loans extended ( financial corporations) 9132 Drawings on short term loans (Other non-financial corporations) 9133 Received on short-term loans extended (other non-financial corporations) 9134 Drawings short-term loans on account of buyers' credit Drawings short-term loans on account of buyers' credit by the other sectors:
non-financial corporations
9135 Drawings short-term loans on account of export bill discounting Drawings short-term loans on account of export bill discounting by the other sectors: non-financial corporations

Annexure-B
Code-7
INVISIBLE PAYMENTS
Code No. Purpose Explanatory Notes
0 TRANSPORTATION
002 Freight-Sea Transport
0020 Surplus freight remittances of foreign shipping companies. 0021 Charters , rentals of foreign ships (with crew) payment by Bangladeshi shipping corporation 0022 Charters, rentals of foreign ships (with crew) payment by Bangladeshi shipping companies 0024 Freight remittances under all contractual arrangements between the parties. Freight remittances under all contractual arrangements between the parties (exporter and importer) i.e. Freight of goods as being provided by the actual provider and payable by the actual invoice party (seller/buyer )on FOB/CFR/CIF basis export /import out of rentals, charters for carriage of goods is shown in this code 012 Freight -Air Transport 0120 Surplus freight remittances of foreign air lines 0121 Charters, rentals of foreign aircrafts (with crew) payment by Bangladesh Biman authority 0122 Charters, rentals of foreign aircrafts (with crew) payment by Bangladeshi aircraft companies 0124 Freight remittances under all contractual arrangements between the parties. Freight remittances under all contractual arrangements between the parties (exporter and importer) i.e. Freight of goods as being provided by the actual provider and payable by the actual invoice party (seller/buyer )on FOB/CFR/CIF basis export /import out of rentals, charters for carriage of goods is shown in this code 022 Freight- Rail Transport 0220 Surplus freight remittances of foreign rail transport 0221 Freight remittances under all contractual arrangements between the parties. Freight remittances under all contractual arrangements between the parties (exporter and importer) i.e. Freight of goods as being provided by the actual provider and payable by the actual invoice party (seller/buyer )on FOB/CFR/CIF basis export /import out of rentals, charters for carriage of goods is shown in this code 032 Freight Services- Road Transport

Code No. Purpose Explanatory Notes
0320 Surplus freight remittances of foreign road transport authorities/companies 0321 Freight remittances under all contractual arrangements between the parties. Freight remittances under all contractual arrangementsbetween the parties (exporter and importer) i.e. Freight of goods as being provided by the actual provider and payable by the actual invoice party (seller/buyer )on FOB/CFR/CIF basis export /import out of rentals, charters for carriage of goods is shown in this code 224 Freight Insurance Services (Merchandise) 2240 Freight Insurance Services Payments on account of freight insurance premiums/ claims etc. payable on international traded goods. i.e. premium related services, claims related services etc. for merchandise or freight-insurance for movable goods during the course of shipment. Freight insurance which is a form of nonlife insurance that raises particular issues for valuation of goods. Like freight transport, the identification of who pays the insurance and whether it is included in the price of good is determined by the FOB valuation concept. 23 Financial Services 231 Explicitly charged and other financial services.. 2310 Bank commission, Bank guarantee, and charges 2311 Deposit and lending related services 2312 Other fees and charges n.i.e 2313 Payments other charges on account of CFR basis import Payments other charges on account of CFR basis import such as document handling charges, FCA charges, commission, fees etc 2314 Payments other charges on account of direct/deemed export bills discounting Payments other charges on account of direct/deemed export bills discounting such as commission, fees, charges etc 42 Other Investment Income 420 Other Investment Income (Interest) -Short Term 4201 General government 4202 Deposit taking corporations (Only schedule Banks) , except central bank 4203 Other sectors : financial corporations 4204 Other sectors : non- financial corporations 4205 Interest paid to non-resident on account of Buyers' credits Interest paid to non-resident on account of Buyers' credits by the other sectors :
non- financial corporations
4206 Interest paid to non-resident on account of direct/deemed export bills discounting Interest paid to non-resident on account of direct/deemed export bills discounting credit by the other sectors : non- financial corporations 421 Other Investment Income (interest)- Long Term

Code No. Purpose Explanatory Notes
4210 General government including Suppliers credits This covers payments of interest (including discount, Suppliers credits) accrued on long-term loans, on deposits and on other commercial and financial liabilities by the government and government controlled enterprises to non-residents abroad. 4211 Deposit taking corporations (Only schedule Banks) , except central bank 4212 Other sectors : financial corporations 4213 Other sectors : non- financial corporations 4214 Other sectors : non￾financial corporations￾Interest paid to non-resident on account of Suppliers credits Interest paid to non-resident on account of Suppliers credits by the other sectors : non- financial corporations 9 OTHER INVESTMENT 90 Long-Term Loans 901 General Government 9010 Payments on long-term loans extended 9011 Repayments on long-term loans / credits extended by foreign government/ international agencies, institutions etc. 9012 Repayments on long term loans on account of suppliers' Repayments on long term loans on account of suppliers' credit by the Public sectors to non-residents. 902 Deposit taking corporations, except central bank (Only
schedule Banks)
9020 Payments on long-term loans extended 9021 Repayments long-term loans 903 Other sectors - financial and non-financial corporations 9030 Payments on long term loans extended ( financial corporations) 9031 Repayment of long-term loans ( financial corporations) 9032 Payments on long term loans extended ( non-financial corporations) 9033 Repayment of long-term loans ( non-financial corporations)

Code No. Purpose Explanatory Notes
9034 Repayments on long term loans on account of suppliers' credit ( non￾financial corporations) Repayments on long term loans on account of suppliers' credit by the other non￾financial corporations to non-residents. 91 Short-Term Loans 911 General Government 9110 Payments on short- term loans extended 9111 Repayments on loans/credits extended by foreign government/ International agencies/ institutions. 9112 Repayments short-term loans on account of government sectors buyers' credit/ approved external credits Repayments short-term loans on account of government sectors buyers' credit/ approved external credits (i.e. IDB/ITFC..etc.) by the BPC or the other public sectors. 912 Deposit taking corporations, except central bank (Only
schedule Banks)
9120 Payments on short- term loans extended 9121 Repayment short- term loans 913 Other sectors - financial and non-financial corporations 9130 Payments on short- term loans extended (financial corporations) 9131 Repayment of short- term loans (financial corporations) 9132 Payments on short- term loans extended (non￾financial corporations) 9133 Repayment of short- term loans ( non-financial corporations) 9134 Repayments short-term loans on account of buyers' credit (non- financial corporations) Repayments short-term loans on account of buyers' credit by the other sectors: non-financial corporations 9135 Repayments short-term loans on account of export bill discounting (non￾financial corporations) Repayments short-term loans on account of export bill discounting credit by the other sectors: non-financial corporations