Regulatory Alerts2021-11-15
Added
SPA Circular No. 01: Purchase of fuel/oil in foreign exchange by airlines/shippinglines or their agents in Bangladesh
Authorized Dealers designated for outward remittances may issue foreign exchange drafts to state-owned fuel and oil selling companies to facilitate fuel and oil purchases by airlines, shipping lines, or their agents in Bangladesh. Equivalent Taka amounts must be recorded in disbursement statements supported by documentary evidence, and these draft payments must be reported in the online TM Form monitoring system with relevant schedules submitted to the Statistics Department of Bangladesh Bank. Authorized Dealers receiving such drafts may encash them, retain the funds in margin or approved foreign currency accounts for the state-owned companies, or use the retained amounts for import settlements, with all receipts reported via the respective online module to the Statistics Department.