Discounting/purchasing of accepted bills at Offshore Banking Units. Ref: BRPD Circular No. 28 dated 05.09.2010.

Discounting/purchasing of accepted bills at Offshore Banking Units

Please refer to the letter No. BCD(P)744(27)/1416 , dated December 17, 1985 issued by the then Banking Control Department of Bangladesh Bank, Head Office, Dhaka regarding guidelines on establishment of Offshore Banking Units (OBUs) in Bangladesh. Since OBUs are treated as nonresident entities for exchange control purposes, it is hereby clarified that the OBUs may discount bills accepted by ADs in Bangladesh against import L/Cs opened on deferred/usance basis applying due diligence.

Please acknowledge receipt.

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Source: https://www.bb.org.bd/mediaroom/circulars/brpd/sep052010brpd28e.pdf

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