Home ›› 04 Oct 2021 ›› Front
The Bangladesh Bank (BB) on Sunday relaxed documentation procedures for exporters getting advance payment from their importers.
From now on, according to a notice of the BB, exporters are no longer required to submit export related documents to the BB.
Instead, exporters are allowed to dispatch all export documents directly to their overseas buyers or their agents.
However, the authorised dealer banks will have to retain the original shipping documents and endorse those on receipt of payments against the exports, said the Bangladesh Bank in a notice on Sunday.
The instruction was given to the exporters for dispatching the shipping documents faster as the existing regulation of foreign exchange requires the exporters the endorsement of the concerned banks within 14 days from the date of shipment.
The central bank has continuously been updating the regulations to facilitate the export shipments, said a BB official. The new rules will support exporters to send export documents by them as per the buyer’s requirements, he added.
He also said that original shipment documents will be endorsed by concerned banks on receipt of payments.
