Guidelines for Foreign Exchange Transactions, Vol- I
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Chapter - 1
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Introduction and definitions
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Chapter - 2
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Athorised Dealers and Money
Changers:
Bangladesh Bank has
authority to issue AD License and ‘Money Changer’ license.
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Chapter - 3
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Bangladesh Bank’s Transactions with Authorised Dealers:
Bangladesh Bank buys/sells in
US Dollars only, on spot basis in multiples of US$ 10,000 with a minimum US$
50,000.
Bangladesh Bank operates FC
clearing system.
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Chapter - 4
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Foreign Currency Accounts of
ADs:
FC Accounts - ADs may
maintain accounts in freely convertible currencies with their
correspondents/branches abroad.
Open Position -
Bangladesh Bank sets prudential limits on each AD bank's open
(overbought/oversold) exchange position.
Short term loans and
overdrafts and Reconciliation of nostro accounts.
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Chapter - 5
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Section I: Outward
Remittances:
With some restrictions
Section II: Inward
Remittances:
No such restrictions
Section III: Dealing in FC
Notes and Coins:
No person is allowed other than
AD or Money Changer
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Chapter - 6
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Import and Export of FC
Notes, Coins, gold, Silver, Securities etc:
Declaration in FMJ for over US$
5000 or equivalent
Incoming person may retain with
him US$ 5000 or deposit in RFCD/NFCD a/c
Export of FC – as per
endorsement and other permission.
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Chapter - 7
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Imports:
Registration of Importers,
LCAF-issue and reporting, Terms of import, Correct HS code, PSI etc.
Section-II: Letter of Credit
Opening LCs and payment
procedures, IMP Form
Section-III: Back to Back LCs
Opening LCs and payment
procedures, IMP Form
Section-IV: Deposit of Counterpart Fund |
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Chapter - 8
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Exports:
Procedures, issuance of EXP and
reporting, Endorsement of transport documents, Repatriation of proceeds and
time-limit, Reporting overdue cases.
Section-II: Export from EPZ |
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Chapter - 9
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Foreign Investment in
Bangladesh:
Issuance of Shares and
transfer, receiving FDI and reporting.
Section-II: Operations in
Securities
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Chapter - 10
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Commercial remittances:
Freight charges, Agency
commission, Royalty and Technical fees – payment system and reporting.
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Chapter - 11
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Private remittances:
Transfer of assets, investment
by foreign nationals in shares, registration, admission/study fees, etc.
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Chapter - 12
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Travel:
Release of FC in travel quota,
seminars, conference, health ground etc.
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Chapter - 13
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Section-I: Private Foreign Currency Accounts:
Opening and maintenance
Section-II: NFCD Accounts:
Opening and maintenance
Section-III: RFCD Accounts:
Opening and maintenance
Section-IV: Exporter’s retention Quota (ERQ) Accounts:
Opening and maintenance
Section-V: Foreign Currency Accounts for EPZ Companies:
Opening and maintenance
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Chapter - 14
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Convertible and
Non-convertible Taka Accounts:
Opening and maintenance
Section-II: Private Non-Resident Taka Accounts:
Opening and maintenance
Section-III: Non-Resident Blocked Taka Accounts:
Opening and maintenance
Section-IV: Non-Resident Inventor’s Taka Accounts
(NITA):
Opening and maintenance
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Chapter - 15
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Borrowing Abroad by
Residents:
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Chapter - 16
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Loans, Overdrafts and
Guarantees:
Credit to non-residents,
working capital loans for foreign controlled firm, different types of foreign
bank guarantees.
Section-II: Credit facilities to industries in EPZ:
Loans to A, B & C type of industries.
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Chapter - 17
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Opening of offices and
appointment of Agents in Bangladesh by Non-Residents:
Permission from Bangladesh
Bank.
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Chapter - 18
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Insurance Business:
Section-II: Reinsurance:
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Chapter - 19
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Payment through
International Card:
Issuance & maintenance.
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