Regulatory Alerts2020-04-20
Added · Updated
Settlement of payment against inland LCs in foreign exchange
Authorized Dealers (ADs) are permitted to settle payments against inland LCs through their nostro accounts, deviating from the previous requirement to use Bangladesh Bank FC clearing accounts as per paragraph 3(c), chapter 3 of the Guidelines for Foreign Exchange Transactions-2018 (GFET), Vol-1. This authorization is granted to facilitate settlements amidst COVID-19 related disruptions. ADs are instructed to establish suitable arrangements with their correspondents abroad to ensure transactions incur minimum charges.
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