BB eases rules on encashment of export proceeds

Publish: 12:47 AM, August 5, 2022 | Update: 12:47:AM, August 5, 2022

The Bangladesh Bank (BB) today eased rules on the
encashment of the value-added portion of repatriated export proceeds in order
to bring flexibility to trade transactions.

“To bring flexibility in trade transactions, it has been decided that
Authorized Dealers (ADs) may, on applications from exporters, retain the
value-added portion of export proceeds in foreign exchange for a maximum
period of 15 days,” as per a BB circular issued here today.

The fund so retained will be used through the same ADs for the settlement of
other import obligations payable by same exporters within this period, the
circular added.

In case of the fund remaining unused, the ADs will encash the same
compulsorily in Taka just after expiry of 15 days. However, the unused fund
can, on request from exporters, be encashed before this allowable time.

In this regard, other instructions will remain unchanged.