Banks can now retain value added portion of export proceeds in foreign currency for 30 days instead of 15 days.
The Foreign Exchange Policy Department of Bangladesh Bank issued a circular in this regard on Tuesday.
The circular also allowed to transfer value added portion of export proceeds to other banks for settlement of import payments and/or EDF liabilities against admissible bulk imports of relevant exporters within this prescribed period.
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Earlier on August 03, 2022 Bangladesh Bank allowed to retain value added portion of export proceeds in foreign currency for settlement of import obligations by exporters within a maximum period of 15 days.
According to business insiders, the new rules will facilitate exporters to avoid exchange loss for settlement of payments by other banks through own funds.
