Business

BB eases rules on encashment of export proceeds


By BSS
Published : 04 Aug 2022 09:56 PM

The Bangladesh Bank (BB) on Wednesday 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.