BB deadline on export proceed repatriation extended

Bangladesh Bank forex policy dept has decided to continue the policy supports for repatriation of export proceeds to 210 days instead of 120 days from the date of shipment, with validity up to March 31, 2021.

Now back-to-back LCs, which are opened under supplier’s/buyer’s credit, are extendable to additional 180 days within permissible rate of interest, says a BB circular issued yesterday.

The facility remains valid up to March 31, 2021 which shall be extended up to June 30, 2021.
Loan from Export Development Fund (EDF) is extendable to additional 180 days instead of 90 days.

Now the refinancing facility from EDF up to 180 days is allowable to settle import payments against back-to-back LCs established under supplier’s/buyer’s credit.