Validity of LCAF for importation of HR coil, Scrap, Pig iron & Sponge iron under deferred payment basis

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 20 Date: 28 June, 2018 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Validity of LCAF for importation of HR coil, Scrap, Pig iron & Sponge iron under deferred payment basis. Please refer to instructions mentioned in Paragraph 6(c), Section – 1, Chapter – 7 of the Guidelines for Foreign Exchange Transactions (GFET), 2018 wherein it is mentioned that LCAF remain valid for remittances for one year subsequent to the month of issuance. It has been decided that LCAFs issued for the import of HR coil, Scrap, Pig iron & Sponge iron for manufacturing of flat and long steel for being used in own factories of steel industries under 360 days deferred payment basis shall remain valid for remittances for 18 months following the month of issuance. Other instructions mentioned in Paragraph 6(c), Section – 1, Chapter – 7 of GFET, 2018 will remain unchanged. Please bring the above instructions to the notice of your concerned clientele. Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319