Foreign Exchange Policy Department
|FE Circular No. 36||Date: August 27, 2020|
All Authorized Dealers in
foreign exchange in Bangladesh
Export Development Fund (EDF) – relaxation
Please refer to paragraph 4(ii) of FE Circular No. 45, dated December 31, 2017 restricting refinance from EDF for input imports of a manufacturer-exporter defaulting in repatriation of export proceeds within the statutory period or such extension as permitted by Bangladesh Bank.
02. To facilitate export trade amid the ongoing situation due to Covid-19 pandemic, it has been decided to bring relaxation of the above stated restriction. Accordingly, refinancing from EDF will be admissible in case of no overdues against the realizable export proceeds during the immediate past 720 days from the date of applications by manufacturer-exporters for loans from EDF against concerned input imports.
Other instructions contained in FE Circular No. 45, dated December 31, 2017 and its subsequent circulars shall remain unchanged. Please bring the content of this circular, effective till March 31, 2021, to the notice of your concerned constituents.
(Mohammad Khurshid Wahab)