Regulatory Alerts2023-04-10
Added
Submission of statement by Bangladeshi Shipping Companies/Airlines
Bangladeshi Shipping Companies and Airlines renting ships, containers, or aircrafts to operators abroad must submit quarterly statements via Annexure-1 through their nominated Authorized Dealer bank to the Foreign Exchange Operation Department within 60 days following the relevant quarter. Entities may change their nominated Authorized Dealer bank without prior approval from Bangladesh Bank, provided a No Objection Certificate from the existing bank is forwarded to the new bank. Authorized Dealers must ensure their customers comply with these instructions, which are effective immediately.
Foreign Exchange Operation Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd SPA Circular No.- 1 Date: April 10, 2023 All Authorized Dealers of Foreign Exchange and All Bangladeshi Shipping Companies/Airlines in Bangladesh Dear Sirs, Submission of statement by Bangladeshi Shipping Companies/Airlines Please refer to chapter 10 of Guidelines for Foreign Exchange Transactions-2018, Vol-1 and its subsequent circulars regarding submission of periodical statements by Bangladeshi airlines/shipping lines engaged in transportation services globally. It is being observed that Bangladeshi shipping companies/airlines are renting their ships/containers/aircrafts to operators abroad. 02. To bring uniformity in reporting system, it has been decided that Bangladeshi Shipping Companies and Airlines renting their ships/containers/aircrafts to operators abroad shall submit quarterly statement as per Annexure-1 attached with this circular through their respective Authorized Dealer (AD) banks to Foreign Exchange Operation Department (FEOD), Bangladesh Bank, Head Office, Dhaka or relevant area offices of Bangladesh Bank within 60 days following the quarter to which those relate. 03. Quarterly Statement as per Paragraph-2 above needs to be submitted through one nominated AD bank branch only. Prior approval from Bangladesh Bank is not required for changing the nominated AD bank. However NOC (No objection certificate) from the existing AD bank is required to be forwarded to the proposed new nominated AD bank. ADs are advised to bring the above instructions, effective immediately, to the notice of their relevant customers for meticulous compliance.
Yours faithfully, Mohammad Zahir Hussain Director (FEOD) Phone- 9530127
Annexure-1 Name of the Shipping Company/Airlines Name of the Quarter SL Name of the Ship/ Aircraft Nature of the Ship/Aircraft (Rented/Importe d/locally bought/locally made) Name of the Foreign company to whom ship/aircraft has been rented Date of the rented agreement Period of the agreement Amount of rent per month/qua rter Opening Balance of the FC Account Amount of rent earned during the period (Foreign Currency) Expenses made in foreign port. Amount Remitted from Bangladesh (Foreign Currency) Amount Encashed (Foreign Currency) Balance of the FC Account (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) Signature and Stamp of the Shipping Company/Airlines Signature and Stamp of the official of AD
- Photocopies of bill/voucher should be attached in support of the expenses.
- Photocopies of Encashment Certificate should be attached in support of encashment of foreign currency.
- Foreign Currency Account Statement.