RegAlert
2018-04-15

Added · Updated

Use of balances held in single pool for 30 days

Authorized Dealers must allow exporters to use unencumbered balances retained in a single pool for up to 30 days to meet import payments for the exporters' subsidiaries or sister concerns, subject to the instructions in paragraph 28(A)(ii), chapter 13 of GFET. This amendment relaxes previous restrictions under paragraph 42(ii), chapter 7 of GFET-2018, which previously limited such retention solely to settling the exporter's own import payments. The instructions are effective immediately.

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Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular No. 10 Date: April 15, 2018
All Authorized Dealers in
Foreign Exchange in Bangladesh
Dear Sirs,
Use of balances held in single pool for 30 days Attention of Authorized Dealers (ADs) is invited to paragraph 42(ii), chapter 7 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Vol-1 in terms of which exporters are allowed to retain export proceeds in foreign currency for a period of 30 days to settle import payments due within this time.
2. To bring further ease in utilization of the fund retained for 30 days, it has been
decided that unencumbered balances held in the pool shall, at the request of exporters within the stipulated time, be useable to meet import payments of exporters’ subsidiaries/sister concerns, subject to observance of the instructions contained in paragraph 28(A)(ii), chapter 13 of GFET. Please bring the above instructions, effective immediately, to the notice of your concerned clientele. Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319

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Lineage: In force

Guideline of 2018Guideline of 2018Use of balances held in singlepool for 30 days2018-04-15 · this documentUse of balances held in single pool for 30 days (2018-04-15)FEPD Circular Letter No. 25: Se…2020FEPD Circular Letter No. 25: Settlement of payment against inland LCs in foreign exchange (2020-06-24)FEPD Circular Letter No. 16: Se…2023FEPD Circular Letter No. 16: Settlement of import liabilities out of export proceeds (2023-10-08)
amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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