The Bangladesh Bank (BB) today issued a master circular on import transactions, consolidating all existing instructions into a single, comprehensive reference document. This initiative aims to streamline procedures and facilitate trade for businesses in the country.
The central bank announced that the circular will remain in effect for one year. It brings together all prior regulations and guidelines concerning various aspects of the import process.
The central bank said the circular will remain in effect for one year. The circular includes areas related to letters of credit (LC) and remittance regulations, imports under sales contracts, supplier’s and buyer’s credit arrangements, software imports, inland LCs in foreign currency and imports for Export Processing Zones (EPZs), Economic Zones, and Hi-Tech Parks. The circular also covers the import of precious metals, jewellery and other specified items.
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