Circular 26
Export transactions

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Foreign Exchange Policy Department-1 
Bangladesh Bank 
Head Office 
Dhaka 
www.bb.org.bd 
 
 
FEPD-1 Circular No. 26                                   Date: July 30, 2026 
 
All Authorized Dealers in 
Foreign Exchange in Bangladesh 
 
 
Consolidated circular on foreign exchange regulations - export trade transactions 
 
Dear Sirs, 
 
Please refer to FE Circular No.  31, dated July 31, 2025 in terms of which regulations  
governing foreign exchange transactions related to export of goods and services were issued 
in a comprehensive form with a validity of one year.  
02. FE Circular No. 31/2025 has been updated by incorporating subsequent circulars 
issued thereafter and consolidating them at one place. Accordingly, all previous instructions 
shall stand repealed with issuance of this consolidated circular, except for the  reporting 
instructions contained in the Guidelines for Foreign Exchange Transactions (GFET), Vol.-2.  
 03. This circular is issued with the authority vested in Bangladesh Bank pursuant to 
Section 20(3) of the FER Act, 1947.  
 
04. The instructions of this circular shall remain valid for one year from the date of its 
issuance. However, instructions to be issued within this period will be read in conjunction with 
this circular. In case of  any ambiguity or inconsistency  arising from the newly incorporated 
provisions, the instructions contained in the original circular should be consulted. 
 
Please bring the instructions to the notice of your constituents. 
 
 
 
 
 
Encl. As stated. 
 
                        Yours faithfully, 
 
 
 
(Md. Harun-Ar-Rashid) 
Director (FEPD-1) 
Phone: 9530123 

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Foreign exchange regulations - export trade transactions 
CONTENTS 
 
Part-A: GENERAL GUIDELINES 
1. Introduction ........................................................................................................................1 
2. Foreign exchange regulations.............................................................................................1 
3. International trade rules ......................................................................................................1 
4. Registration of exporters ....................................................................................................1 
5. Declaration and repatriation of proceeds ...........................................................................1 
6. Prescribed form for declaring exports ................................................................................1 
7. Export exempted from declaration and repatriation of export proceeds ............................1 
8. Prescribed period to realize export proceeds......................................................................2 
9. Method of receiving payments against exports ..................................................................2 
10. Retention of export proceeds in foreign currency accounts .............................................2 
11. EXP Forms .......................................................................................................................2 
12. Electronic EXP Form .......................................................................................................3 
13. Export transactions and proceeds realization guidelines for ADs ....................................3 
14. Making out and delivery of shipping documents .............................................................4 
15. Transport documents in the name of importers ................................................................5 
16. Endorsement of shipping documents ...............................................................................5 
17. Dispatch of export documents ..........................................................................................6 
18. Negotiation of export documents using shipping documents issued by freight 
forwarders...............................................................................................................................6 
19. Disposal of EXP Form .....................................................................................................6 
20. Deductible charges ...........................................................................................................7 
21. Use of appropriate incoterms ...........................................................................................8 
22. Receipts of advance remittances against exports .............................................................8 
23. Short shipments and shipments shut out entirely .............................................................8 
24. Shipments lost or damaged in transit ...............................................................................9 
25. Shipments on FOB basis ..................................................................................................9 
26. Reporting of overdue cases ..............................................................................................9 
27. Discount claims for shipment of certain goods ................................................................9 
28. Online reporting ...............................................................................................................9 
29. Export proceeds realization certificate (PRC) against direct and deemed exports ..........9 

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Part-A: GENERAL GUIDELINES 
30. Discounting of direct and deemed export bills in foreign exchange ..............................10 
31. Right to assignment of export bills ................................................................................10 
32. Insurance coverage against financing to exporters ........................................................10 
 
Part-B: EXPORT FROM THE SPECIALIZED ZONES 
1. Principles and procedures.................................................................................................11 
2. Declaration of export ........................................................................................................11 
3. Disposal of export proceeds .............................................................................................11 
4. Discounting of accepted usance bills of specialized zones‟ enterprises (Type A and B) ......11 
5. Sale of Bangladeshi goods to enterprises in specialized zones ........................................11 
 
Part-C: EXPORT TRADE TRANSACTIONS, APPROPRIATE SAFEGUARDS 
1. Regulations for cross-border banking and AML/CFT compliance ..................................13 
2. Safeguards for export trade transactions ..........................................................................13 
3. Guidance for exporters in case of transaction issues........................................................14 
 
Part-D: EXPORT UNDER OPEN ACCOUNT CREDIT TERMS 
1. Open account credit terms for exports .............................................................................15 
2. Financing and payment terms ..........................................................................................15 
3. Competitive export pricing...............................................................................................15 
4. Counterparty arrangements and membership requirements .............................................15 
5. Issuance and handling of transport documents ................................................................16 
6. Timeline for submission of export documents .................................................................16 
7. Early payment facilities for exporters ..............................................................................16 
8. Assignment of export proceeds ........................................................................................16 
9. Verification of export and compliance with KYC/AML standards .................................16 
10. Consultation on international factoring guidelines ........................................................16 
11. Payment undertaking/payment risk coverage from local insurance companies ............16 
12. Payment undertaking/payment risk coverage for documentary collection ....................17 
 
Part-E: ELECTRONIC PRESENTATION OF EXPORT DOCUMENTS UNDER 
DOCUMENTARY COLLECTION ARRANGEMENTS 
1. Electronic presentation of export documents ...................................................................18 
2. Scope ................................................................................................................................18 

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Part-E: ELECTRONIC PRESENTATION OF EXPORT DOCUMENTS UNDER 
DOCUMENTARY COLLECTION ARRANGEMENTS 
3. Sales contracts ..................................................................................................................18 
4. Electronic documents .......................................................................................................18 
5. Endorsement of title documents .......................................................................................19 
6. Transmission to collecting/presenting banks ...................................................................19 
7. Realization and monitoring ..............................................................................................19 
8. Record maintenance and security .....................................................................................19 
9. Implementation.................................................................................................................19 
 
Part-F: PILOT FRAMEWORK FOR DIGITAL PROCESSING OF TRADE DOCUMENTS 
UNDER DOCUMENTARY COLLECTIONS AND LETTERS OF CREDIT THROUGH 
APPROVED TRADE CORRIDORS 
1. Pilot framework for digital processing .............................................................................20 
2. Scope and coverage ..........................................................................................................20 
3. Core principles for digital trade documents .....................................................................20 
4. Initiation of pilot trade corridors ......................................................................................20 
5. Legal and contractual arrangements .................................................................................21 
6. Electronic documents under documentary collections and LCs ......................................21 
7. Endorsement, transfer and control mechanism ................................................................21 
8. Export transactions under LC and collection arrangements.............................................22 
9. Technology, security and data integrity ...........................................................................22 
10. Use of technology service providers ..............................................................................22 
11. Reporting requirements ..................................................................................................22 
12. Implementation...............................................................................................................22 
13. Continuity of existing Provision ....................................................................................22 
 
Part-G: DEVELOPMENT AND FACILITATION OF ALTERNATIVE TRADE FINANCE 
MECHANISMS 
1. Alternative trade finance mechanisms .............................................................................23 
2. Permissible trade finance mechanisms .............................................................................23 
3. Supply Chain Finance (SCF) ...........................................................................................23 
4. Digital trade facilitation and documentation framework .................................................23 
5. Regulatory and prudential requirements ..........................................................................24 
6. Overarching provision  ....................................................................................................24 

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Part-H: EXPORT OF SERVICES INCLUDING INFORMATION TECHNOLOGY 
ENABLED SERVICES 
1. Export of software and data entry/processing services ....................................................25 
2. Business process outsourcing ...........................................................................................25 
3. Business services ..............................................................................................................26 
4. Time limit for repatriation of export earnings ..................................................................26 
5. Export proceeds and retention abroad ..............................................................................26 
 
Part-I: EXPORT PROCEED REALIZATION SERVICES 
1. Acquiring services ............................................................................................................27 
2. Repatriation of proceeds against export traded under E-Commerce................................27 
3. Repatriation of export proceeds through OPGSPs ...........................................................27 
4. Repatriation of ICT related service income through international card ...........................28 
5. Repatriation of export proceeds through payment service providers ...............................29 
6. Repatriation of income from IT related services/small value export proceeds under E -
Commerce through MFSPs and PSPs ..................................................................................30 
7. Retention of foreign currency and outward remittance ....................................................31 
 
Part-J: EXPORT THROUGH E-COMMERCE 
1. Business-to-Consumer export through sales orders against receipt in advance ...............32 
2. Business-to-Consumer (B2C) export against orders received from globally  recognized 
online marketplaces/plat forms ............................................................................................32 
3. Electronic declaration for E-Commerce export ...............................................................34 
4. Business-to-Consumer export through sales orders against cash on delivery/payment on 
shipment terms .....................................................................................................................34 
5. Small value export under Business-to-Consumer on E-Commerce website without EXP ...34 
6. Exports of goods under Business to Business to Consumer framework ..........................35 
 
PART-K: FOREIGN EXCHANGE TRANSACTIONS BY FREELANCERS/INDIVIDUAL 
SERVICE EXPORTERS 
1. Freelancer‟s/Individual service exporter‟s foreign exchange transactions ......................36 
2. Scope and applicability ....................................................................................................36 
3. Service export and receipt of payments ...........................................................................36 
4. Verification and documentation .......................................................................................36 
5. Repatriation through OPGSPs ..........................................................................................36 

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PART-K: FOREIGN EXCHANGE TRANSACTIONS BY FREELANCERS/INDIVIDUAL 
SERVICE EXPORTERS 
6. Receipts through Cards, MFSPs, and PSPs .....................................................................37 
7. ERQ facilities and utilization ...........................................................................................37 
8. Taxes and regulatory compliance .....................................................................................37 
9. Time limit for repatriation ................................................................................................37 
10. Prohibition on retention abroad ......................................................................................37 
11. Reporting and record-keeping ........................................................................................37 
 
Part-L: STREAMLINING THE DIS POSAL OF INWARD REMITTANCES AND 
ENHANCING OPERATIONAL EFFICIENCY 
1. Streamlining the disposal of inward remittances .............................................................38 
2. Customer notification, processing and timely crediting...................................................38 
3. Use of intraday confirmations and reduction of end-of-day dependency ........................39 
4. Payment tracking, transparency, and UETR compliance .................................................39 
5. Inter-bank transfers ..........................................................................................................39 
6. Digital facilitation and customer interfaces .....................................................................39 
7. Compliance.......................................................................................................................40 
 
Part-M: RE-EXPORT, ENTRE -POT, MERCHANTING TRADE AND COUNTER -
TRADE 
1. Re-export and entre-pot trade ...........................................................................................41 
2. Foreign exchange transactions for merchanting trade......................................................41 
3. Settlement of import and export transactions through counter-trade arrangements ........42 
 
Part-N: EXPORT OF CURRENCY NOTES AND COINS, FOREIGN EXCHANGE, 
GOLD, SILVER, JEWELLERY AND SECURITIES ETC.  
1. Definition of foreign exchange ........................................................................................44 
2. Export of foreign exchange ..............................................................................................44 
3. Export of local currency ...................................................................................................44 
4. Export of securities...........................................................................................................44 
5. Definition of jewellery and precious stones .....................................................................45 
6. Export of gold jewellery and silver jewellery ..................................................................45 
7. Cost of imported inputs prepaid abroad ...........................................................................45 
8. Export of jewellery on consignment basis .......................................................................45 

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Part-O: EXPORTERS’ RETENTION QUOTA (ERQ) ACCOUNT 
1. Retention quota limits ......................................................................................................46 
2. Eligible currency and utilization ......................................................................................46 
3. International card..............................................................................................................48 
 
Part-P: FOREIGN CURRENCY ACCOUNTS FOR ENTERPRISES  OPERATING IN 
SPECIALIZED ZONES 
1. Disposal of proceeds ........................................................................................................49 
 
Part-Q: FOREIGN CURRENCY -TAKA SWAP FACILITY AGAINST EXPORTERS’ 
FUND IN FOREIGN CURRENCY HELD IN 30-DAY POOL AND RETENTION QUOTA 
ACCOUNTS FOR MEETING WORKING CAPITAL NEEDS .............................................. 51 
 
 
 
AAPPENDIX 
 
Appendix-1 EXP Form 
Appendix-2 Export register 
Appendix-3 Certificate of AD for carrier company 
Appendix-4 Certificate of AD for carrier company 
Appendix-5 Information relating to export orders with foreign agent commission 
Appendix-6 Advance receipt voucher 
Appendix-7 Application for approving remittance of discount on account of 
readymade garments, leather goods, jute goods, ships, frozen shrimp 
and fish products 
Appendix-8 PRC Direct Export 
Appendix-9 PRC Deemed Export 
Appendix-10 Certificate of AD for carrier company 
Appendix-11 Form-C 
Appendix-12 Form-C (ICT) 
Appendix-13 Certificate by AD against IT related Services 
Appendix-14 Form TM 
Appendix-15 Form of undertaking 

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Part-A 
GENERAL GUIDELINES 
 
1. Introduction 
Export from Bangladesh is regulated by Import and Export (Control) Act, 1950, Export Policy, 
and Public Notices issued from time to time by the Ministry of Commerce and the Office of the 
Chief Controller of Imports and Exports (CCI&E).  
 
2. Foreign exchange regulations 
Authorized Dealers (ADs) may conduct foreign exchange transactions on export in conformity 
with the instructions contained in this circular and to be issued by Bangladesh Bank from time 
to time in exercise of the powers conferred by Section 20(3) of the Foreign Exchange 
Regulation (FER) Act, 1947  (As amended in 2015). Nothing in the foreign exchange 
regulations relieves ADs and exporters from the necessity of complying with the Export Trade 
Regulations prescribed by the Government and relevant other regulations such as AML/CFT. 
 
3. International trade rules 
ADs shall observe best practices in accordance with applicable international trade rules such as 
Uniform Customs and Practice (UCP), Uniform Rules for Collections (URC), Incoterms, etc. 
ADs are required to ensure that the terms of the Letters of Credit (LCs) are in conformity with 
the rules of prevailing UCP for exports from Bangladesh. While executing export transactions 
under sales contracts on documentary collection basis, ADs are advised to observe t he latest 
version of URC. Local regulations will, however, prevail in case of contradiction. 
 
4. Registration of exporters 
ADs should ensure that exporters are registered under the Importers, Exporters and Indentors 
(Registration) Order, 2023. 
 
5. Declaration and repatriation of proceeds 
Government Notifications No. 1(6)/ECS/48 and 1(7)/ECS/48 dated July 01, 1948 issued 
pursuant to Section 12 of the FER Act, 1947 prohibit export of any goods directly or indirectly 
to any place outside Bangladesh, unless a declaration is furnished by the exporter to the 
Customs Authority or to such other authority as specified by Bangladesh Bank. The declaration 
must confirm that t he full export value of the goods has been, or will be, disposed of in 
accordance with the manner and within the time frame specified by Bangladesh Bank. 
 
6. Prescribed form for declaring exports 
All exports unless otherwise exempted must be declared on the EXP Form (as per Appendix-
1). ADs are advised to guide their exporters to declare the full invoice value of goods on EXP 
form without adjustments of foreign agent commission or other trade charges. On the Form, 
exporters shall under take to repatriate full export proceeds within the period specified by 
Bangladesh Bank in terms of the FER Act, 1947. 
 
7. Export exempted from declaration and repatriation of export proceeds1 
The regulations mentioned above do not apply to the export of: 
(a) Bonafide trade samples as per Export Policy in force; 
                                                           
1FEPD-1 Circular Letter No. 03, dated February 26,  2026 

2 
 
(b) Personal effects of travelers whether accompanied or unaccompanied; 
(c) Ships stores and transhipment cargo; 
(d) Goods shipped under the orders of the Government of Bangladesh, or any officers designated 
by the Government or by the Military, Naval, or Air Force authorities in Bangladesh for their 
respective requirements; 
(e) Gift packets accompanied by a declaration from the sender confirming that the contents‟ 
value is below the Export Policy limit in force and no foreign exchange transaction is involved; and 
(f) Where the packet is covered by a certificate issued by Bangladesh Bank to the effect that 
the export of the parcel does not involve any transaction in foreign exchange. 
 
Exemptions as above will be allowed by the customs authorities after being satisfied that the 
relative exports qualify for such exemptions. 
 
8. Prescribed period to realize export proceeds 
(1) The prescribed period for repatriating export proceeds is four months (vide B angladesh 
Bank Notification No. FE 1/77-BB dated April 16, 1977). If the full proceeds of any shipment 
are not received within this period, without special or general authorization from Bangladesh 
Bank, exporters will be subject to action under the FER Act, 1947. 
(2) In respect of export of raw jute and jute goods, the repatriation period may be upto 360 
days against irrevocable confirmed LC or under open  account as outlined in Part -D of this 
circular. ADs shall conduct extended due diligence while executing export under usance terms, 
including satisfying themselves to the effect that export price quoted is internationally 
competitive and that the usance interest loaded is at a rate commensurate with the  prevailing 
interest rate in the concerned currency. 
 
9. Method of receiving payments against exports 
Payment for goods and services exported from Bangladesh may be received through an AD:  
(a) In freely convertible foreign currency, including Chinese Yuan (CNY); 
(b) In Taka from a non-resident Taka Account; 
(c) From Escrow accounts under counter-trade arrangements as detailed in Part-M; 
(d) Under „Acquiring Service‟ in the realization of proceeds against export through the internet; 
and 
(e) From Online Payment Gateway Service Providers (OPGSPs) and other legitimate operators 
as detailed in Part-I.  
 
10. Retention of export proceeds in foreign currency accounts 
Exporters are allowed to retain foreign exchange in foreign currency accounts known as 
Exporters‟ Retention Quota (ERQ) account at the prescribed limit out of the repatriated export 
proceeds as detailed in Part-O of this circular. In addition, export proceeds may also be retained  
in single pool for settlement of import liabilities as outlined in relevant instructions.  
 
11. EXP Forms 
Export of goods from Bangladesh is subject to declaration by exporters on EXP Form. ADs 
may provide Online Export Monitoring System (OEMS) user ID to their customers to generate 
electronic EXP Forms. The EXP Form shall contain 11 digits as shown below:  
 
EXP NO. AD‟s Code Serial Number Serial Year 
           

3 
 
The first four boxes of EXP number will bear the branch code prescribed by Bangladesh Bank 
for each AD branch, the next five  boxes are meant for mentioning the serial number of the 
Export Register ( as per Appendix-2) of the branch and the last two boxes are meant for 
mentioning the last two digits of the year of registration. ADs may maintain Export  Register 
in electronic form with data backup as per IT Security Policy of the ADs. 
 
12. Electronic EXP Form 
(1) Electronic option to submit EXP Form is acceptable in Bangladesh Bank OEMS for 
export of goods prior to customs formalities. Accordingly, ADs shall accept EXP Form 
submitted electronically by their exporter -customers, information of which will subsequently 
be available in customs electronic system for onward formalities. 
(2) Exporters shall execute export formalities with the Customs Authority for issuance of Bill 
of Export based on information of EXP Form available in customs electronic system. 
Immediately on completion of shipment of goods from Bangladesh, exporters shall report/  
submit transport/shipping information in Bangladesh Bank OEMS to close the procedure. For 
on time submission of shipment information, ADs need to follow up with exporters so that they 
can report shipment information immediately on completion of shipment of goods. In case of 
non-reporting, ADs shall complete the reporting form alities on receipt of documents from 
exporters within 14 days from the date of shipment. 
(3) Bill of Export issued by the Customs Authority to permit the shipment will suffice the 
requirement of existing customs assessment as necessary on paper based EXP F orm. Hence, 
certification by Customs Authority shall not be required on EXP Form submitted electronically 
by exporters. 
(4) Within 14 days from the date of shipment of goods from Bangladesh, exporters shall 
submit a signed hardcopy of the electronically su bmitted EXP Form together with Bill of 
Export duly certified by the Customs Authority and relevant shipping documents covering 
export of goods to ADs for compliance in accordance with paragraph 19 of this Part. 
(5) Signed hardcopy of EXP Form submitted by exporters to ADs as per (4) above shall be 
treated as original. ADs shall post -facto certify the same and observe subsequent formalities 
including passing documents abroad for collection and disposal thereof with routine reports. 
(6) Electronic EXP Form is  applicable only for export through customs houses having 
electronic system of Bill of Export issuance. The  paper based EXP Form submission may 
continue for exports through customs houses without having electronic arrangement. 
(7) Bangladesh Bank assigns User IDs and Passwords to exporters upon request through their 
ADs. In this regard, ADs need to upload the requests containing authenticated information of 
exporters to OEMS.   
 
13. Export transactions and proceeds realization guidelines for ADs 
(1) Before execution of export transactions, ADs shall satisfy themselves with regard to the 
followings:  
(a) Arrangements have been made for realization of export proceeds within the prescribed 
period; 
(b) Arrangements have been made for receipt of title to goods like Bill of Lading, Airway 
Bill, etc. by ADs on shipment of the underlying goods; and 
(c) ADs shall justify bonafide of buyers/consignees abroad and their credentials etc. where  

4 
 
 
necessary, ADs should make discreet inquiries in  this regard through its correspondents 
abroad etc., greater care should be taken particularly in cases of shipments against contract 
alone and shipments on CAD/DA basis. ADs should report promptly to Bangladesh Bank, 
where ADs doubt the bonafides and stan ding of the buyers/consignees abroad or where 
owing to common interest or otherwise they suspect collusion with the intent of delaying or 
avoiding repatriation of export proceeds. Similarly, ADs should report to Bangladesh Bank 
cases where it comes to thei r knowledge that exporters are directly or indirectly connected 
with or have any financial or other interest in the buyer/consignee abroad. If  necessary, 
discreet enquiry about the bonafides and credentials of the charter party should also be made, 
if shipment is to be made against a charter party Bill of Lading. 
(2) For delay in repatriation or non -realization of export proceeds, exporters will render 
themselves liable to punitive action under the FER Act, 1947. Besides, in the event of non -
realization or short realization of export proceeds against shipment within the stipulated 
period, ADs shall obtain from the exporters and furnish to Bangladesh Bank full explanation 
as to the circumstances resulting in non -realization/short realization. Therefore, in th eir own 
interest, both exporters and ADs should be alert and active in ensuring timely repatriation of 
export proceeds. 
(3) ADs are responsible for meticulously complying with relevant regulatory instructions 
while processing export transactions. In the ev ent of delay in realization or non -
realization/short realization of export proceeds due to non -compliance of the regulatory 
instructions, ADs and their respective officials will be held liable to punitive action under the 
FER Act, 1947. 
 
14. Making out and delivery of shipping documents 
In exercise of the powers vested in Bangladesh Bank under Section 20(3) of the FER Act, 1947 
all carriers whether common or private (Railway, Shipping, or Airline companies), and their 
agents are directed as under:  
(a) Transport documents, title to export of goods, must be drawn to the order of an AD  in 
respect of exports of goods from Bangladesh (excluding exports from Type A industrial 
enterprise located in specialized zones) via land or sea routes. These documents shall be handed 
over to the authorized representatives of the designated AD only. 
(b) If the goods reach the beneficiary port before the transport documents reach the foreign 
importer, the AD may request shipping companies to issue Delivery Order to deliver the goods 
to the order of AD ‟s correspondent in the buyer‟s country.  The AD also needs to send 
instructions through authenticated channel to its overseas correspondent to hand over Delivery 
Order to the consignee, and stating the amount to be realized from the consignee before the 
Delivery Order is released. 
(c) In respect of export of goods from Bangladesh (excepting exports from Type A industrial 
enterprise located in specialized zones) to foreign countries by air, the Airway Bills and any 
other documents of t itle to cargo should be drawn to the order of a bank in the country of 
import nominated by the AD designated for this purpose by the respective exporter and 
delivered to the authorized representative of AD. The above directions shall not apply to 
exports exempted from repatriation of export proceeds as liste d in paragraph 7 of this part . 

5 
 
Exports of fresh fish, vegetables, fruits, poultry and other goods of perishable nature are also 
exempted from this direction. 
(d) Railway Receipts, Bill of Lading, Airway Bill and other documents of title to cargo may 
be drawn to the order of importer or other designated parties only if ( i) the shipment is being 
made against full payment received in advance by the exporter through AD and ( ii) it is a 
requirement of export LC/contract. In this context, designated AD shall issue a certificate in the 
prescribed form (as per Appendix-3) to be produced to the carrier company, enabling them to 
draw the shipping documents accordingly. 
 
15. Transport documents in the name of importers2 
ADs may allow exporters, for shipment value up to USD 1,00,000 or equivalent, to arrange 
for transport documents, to be issued in the name of foreign importers or other designated 
parties, and to have them dispatched same to impor ters or other designated parties, upon 
issuance of a certificate (as per Appendix-4) to carrier companies, subject to the following 
conditions:  
(a) Repatriation safeguards:  
(1) Exporters shall provide written consent for availing this facility, and ADs must be 
satisfied with the repatriation mechanism before granting permission.  
(2) ADs shall ensure that the arrangements do not compromise, in any manner, realization 
of expor t proceeds and shall maintain effective monitoring to secure timely repatriation 
within the statutory period.  
(3) The respective exporter shall have no overdue export proceeds.  
(b) Eligibility and operational conditions:  
(1) ADs shall obtain valid expor t orders requiring such arrangements of shipments and 
satisfy themselves about the bonafides of foreign importers/consignees in accordance with 
the provisions of paragraph 13(1) of this part.  
(2) The facility shall be available only to exporters with a mi nimum realization of USD 
1.00 million or equivalent in aggregate export proceeds during the last three financial years. 
 
16. Endorsement of shipping documents 
(1) ADs to whose order the relative Railway Receipts, Bills of Lading, etc. are drawn shall 
endorse the same to the order of their foreign correspondents but in no case, they shall make 
any blank endorsement or endorse it to the order of the consignee unless they have obtained 
specific or general approval of Bangladesh Bank thereof. However, in t he cases of export 
from Type A industrial enterprises located in specialized zones, Bill of Lading/Airway 
Bill/other documents of title to cargo drawn to the order of ADs may be blank endorsed or 
endorsed in favor of the consignees as per terms of the export LC/contract. 
(2) In case of export proceeds received after shipment but before sending export documents 
abroad for collection, it does not warrant documents to be sent abroad for collection. ADs 
may endorse transport documents of title to cargo in favor  of the importer or other designated 
party and deliver the same as per stipulations of export LC/contract only if full export 
proceeds are received through normal banking channel before sending export documents to 
counterpart bank abroad for collection. 
 
                                                           
2FEPD-1 Circular No. 06, dated March 16, 2026 

6 
 
17. Dispatch of export documents  
ADs may allow exporters to dispatch export documents (excluding original transport 
document of title to cargo) directly to importers or their agents abroad through secured 
media, subject to observance of following instructions:  
(a) The underlying LC/contract provides for such direct dispatch of export documents. 
(b) ADs shall be satisfied with the arrangement of realization of export proceeds within the 
statutory period as per paragraph 8 of this part. 
(c) ADs shall endorse original transport documents ret ained with them on receipt of 
payment against relevant export. 
(d) ADs shall, within 14 days from the date of shipment, obtain EXP Form from exporters 
to comply with regulatory instructions, including routine reporting to Bangladesh Bank. 
(e) Exporters‟ ac counts with A Ds are fully compliant with KYC/AML/CFT guidelines in 
force.  
 
18. Negotiation of export documents using shipping documents issued by freight 
forwarders 
In case of negotiation of export bills using FCRs, HBLs, or HAWBs issued by freight 
forwarders, the following additional conditions are to be fulfilled:  
 (a) The export LC/contract specifically provides for negotiation of export bill against 
FCR/HBL/HAWB (as the case may be) issued by a freight forwarder; 
 (b) The freight forwarder issuing the  FCR/HBL/HAWB is operating in Bangladesh with 
license from the Customs Authority; and 
 (c) ADs will be responsible for satisfying themselves about the arrangement for timely 
repatriation of proceeds of export bill negotiated against FCR/HBL/HAWB. 
 
19. Disposal of EXP Form 
(1) The electronic EXP Form is to be considered disposed of after online reporting of export 
proceeds repatriation. However, the hard copy of EXP Form is to be disposed of  in usual 
manner. 
Submission of export documents to ADs 
(2) The exporter must submit EXP Form along with the invoices and other export documents 
to the AD through whom payment for the goods exported is to be received. In the event of 
payment being received through an AD other than the designated AD of exporters, the AD  
negotiating or collecting or repatriating proceeds against relative export should convey the 
particulars of the EXP Form to the designated AD of exporter to  enable the latter to make a 
suitable note in the relative export register. 
(3) ADs executing export transactions need to receive foreign currency from AD having 
repatriated export proceeds. In this context, ADs repatriating export proceeds needs to transfer 
the fund in foreign currency to ADs designated for export transactions. In case of payment 
against export bill discounting or early payment arrangement in foreign currency by other ADs 
or offshore banking units (OBUs), the foreign currency fund shall be transferred to designated 
AD. Export proceeds repatriated through ADs of buying agents shall also be transferred in 
foreign currency to exporter‟s AD. While making transfer, ADs shall keep records of the 
transactions suitably for proper reconciliation. 
The transfer is to be executed by the following business day on completion of the relevant 

7 
 
transactions through Bangladesh Bank FC clearing service. On receipt of the fund, designated 
ADs shall convert the encashable portion of foreign currency in Taka following the relevant 
instructions and make the same available to exporter‟s account maintained wi th them. In all 
cases, conversion of export proceeds is required to be executed through designated ADs by 
the following business day, unless otherwise exempted, on receipt of the fund in their 
respective accounts either from other ADs/OBUs or abroad. Howev er transfer of foreign 
currency to exporter‟s ADs is not mandatory for jute export facilitated by traders nominated 
by BJMC. 
(4) All shipping documents covering goods exported from Bangladesh and declared  on 
EXP Form must be passed through ADs within 14 da ys from the date of shipment. The  copy 
(signed copy in case of electronic EXP) of the EXP Form and the shipping documents etc. 
should be submitted to ADs in time to enable them to report to Bangladesh Bank within 14 
days from the date of shipment of the goods covered by the Form. 
Scrutiny of documents  
(5) On receipt of the EXP Form and the documents covering the exports, ADs shall verify 
the shipping documents using online EGM of Customs  Authority. ADs shall conduct the 
tracking of shipments through tracki ng system recognized by competent authority for the 
cases where EGM data is not available. 
ADs should compare the relative bill and/or documents with the relative EXP Form and 
satisfy themselves that the declaration made on the Form is correct. In no case,  the invoice 
value should be less than the value declared for customs purposes. Special care should be 
exercised in checking the invoices with a view to detecting misinvoicing of exports. Any 
suspicious circumstance should be reported to Bangladesh Bank. 
(6) If the difference between the values stated on the EXP Form and the amount of the 
bill/invoice is small and accounted for legitimate trade charges etc. ADs may accept the 
bill/documents for negotiation/collection. The details of such adjustments must be  given on 
the relative form and must be authenticated by ADs under their stamp and signatures. 
(7) After negotiation of the bill or acceptance of the documents for collection, ADs should 
keep record in export registers. 
(8) ADs shall retain the signed EXP Form with them for record and eventual inspection for 
a period of 5  (Five) years. However, in respect of cases which are under investigation by 
Bangladesh Bank inspection team/other Government agencies, the EXP Form and full set of 
export documents shall be disposed of only after obtaining clearance from the inspection 
team/Government agency concerned. 
 
20. Deductible charges 
 (1) Commission or brokerage due to be paid to foreign importers or to agents by exporters in 
Bangladesh relating to the particular shipment may be deducted from the relative bill amount or 
the amount of the sale proceeds or remitted from Bangladesh after the full proceeds have been 
realized only upto a maximum of 5  (Five) percent of the value of the goods. In exceptional 
cases or where it is customary in any particular trade to pay commission in excess of 5  (Five) 
percent by deduction from the invoice value of exports, Bangladesh Bank may consider 
applications by exporters through their ADs and may grant a standing authority to permit 
payment of commission in excess of 5  (Five) percent of the invoice value. While applying to 

8 
 
Bangladesh Bank for such permission, ADs shall attach application of exporter along with 
prescribed format (as per Appendix-5). The supporting  documents have to be preserved by 
ADs upto prescribed period for presentation to Bangladesh Bank/inspection team as and when 
required. 
 (2) ADs may allow bank charges/trade charges as per stipulation of concerned export 
LCs/contracts. Bank charges/trade charges, not specifically stipulated in export LCs/contracts, 
may also be settled in accordance with the instructions of UCP and other applicable 
international trade rules. 
 (3) In the case of export of books, journals, and magazines published in Bangladesh, 
exporters can allow upto 33.5% discount  of the invoice value without prior approval of 
Bangladesh Bank. 
 
21. Use of appropriate incoterms 
EXW, FCA, FOB, FAS, CFR, CIF, CPT and CIP  incoterms issued by the International 
Chamber of Commerce are allowed to use in export  from Bangladesh provided those are 
stipulated in the relevant LC/contract. Inconsistency, if any, in respect of use of incoterms, 
should be informed immediately to the LC issuing bank  for necessary amendment with 
intimation to the beneficiary. ADs shall also keep their exporter customers informed of the 
appropriate terms and conditions against applicable incoterms for export so that they can insist 
foreign buyers to get LC/contract issued accordingly. 
 
22. Receipts of advance remittances against exports3 
Before paying out money against remittances received from abroad, where purpose of the 
remittance is stated as advance receipt for goods to be exported from Bangladesh, ADs should 
obtain a declaration from the beneficiary on the „Adv ance Receipt Voucher (ARV)‟, (as per 
Appendix-6) certifying the purpose of the remittance with report to the „Online ARV 
Reporting Module‟. ADs shall also comply with following instructions before accommodating 
the transaction: 
(a) The exporter has received irrevocable LC/contract to execute export against advance 
payment; 
(b) The previous export performance of the exporter is satisfactory and the exporter shall 
have adequate capability to execute the export order; 
(c) The payment in advance shall not bear any interest; 
(d) Export needs to be executed within a period not exceeding one year from the date of 
receipt of advance payment. However, this instruction will not be applicable for advance 
payment received against performance bonds or bank guarantees/standby LCs; and 
(e) In case of non -execution of export including issuance of EXP Form against advance 
payment, ADs may allow refund of advance payment. In this case, ADs shall utilize funds from 
Exporters‟ Retention Quota (ERQ) account first and remainder from Taka accounts. 
 
23. Short shipments and shipments shut out entirely 
Shipping information which is available in online system of Bangladesh Customs shall be  
treated as final for reporting in OEMS. ADs shall check authenticity of t he shipping  
                                                           
3FE Circular Letter No. 31, dated September 25,  2025 

9 
 
information from online  system of Bangladesh Customs Authority before sending  any 
correction request, if necessary, to Bangladesh Bank. 
 
24. Shipments lost or damaged in transit 
If shipments from Bangladesh are lost in transit for which payment  has not already been 
received either by a direct remittance or by negotiation of bills under an LC, the AD must see 
that an insurance claim is made as soon as the loss is known. The relative EXP Form should 
contain a statement on the reverse thereof, unde r the stamp and signature of the AD that the 
shipment has been lost, together with the following particulars regarding the insurance covering 
the shipment: 
(a) Amount of insurance (including currency in which drawn). 
(b) Name of the Insurance Company. 
(c) Place where the claim is payable.  
Where the claims are payable in a currency other than Taka, they should be realized through the 
designated ADs who, on satisfaction of the claim, should certify note on the  EXP Form and 
report to Bangladesh Bank. 
 
25. Shipments on FOB basis 
In cases where freight has been paid in Bangladesh but export documents are on FOB basis 
should be reported to Bangladesh Bank.  
 
26. Reporting of overdue cases  
ADs are required to upload information on overdue EXP Forms to OEMS by  the 10th day of 
each month, including the reason for the overdue status, actions taken to realize export 
proceeds, and litigation status (if applicable).  
 
27. Discount claims for shipment of certain goods 
Cases of discounts 4 claimed by the importers in respect of shipment of readymade garments, 
leather goods, jute goods, ships, frozen shrimp and fish products should be submitted (as per 
Appendix-7) to the Discount Committee through Foreign Exchange Polic y Department -1, 
Bangladesh Bank, Head Office for recommendation/decision. However, before referring such 
case to the Committee, ADs must be satisfied about the genuineness and merit of the case. 
 
28. Online reporting 
ADs will report information on the receipt of contracts/LCs and export proceeds to OEMS of 
Bangladesh Bank not exceeding eight working hours. 
 
29. Export proceeds realization certificate (PRC) against direct and deemed exports 
ADs shall follow the instructions in case of issuance of PRCs as under:  
(a) ADs shall use prescribed proforma  (as per Appendix-8) to issue  PRCs for proceeds 
realized against direct exports  using OEMS while prescribed proforma (as per Appendix-9) 
shall be used to issue PRCs for proceeds realized against deemed exports using OIMS. 
(b) Head Office/Principal Branch of the AD shall send updated list of its officials along with 
their specimen signatures, PA nos. and phone numbers who are authorized to sign PRCs to the 
Offices of the „Bond Commissionerate‟ and „Duty Exemption and Drawback Office (DEDO)‟ 
from time to time for verifying the genuineness of issued PRCs. 
                                                           
4FE Circular No. 49 dated December 09, 2025 and FEPD-1 Circular No. 05 dated January 26, 2026 

10 
 
(c) ADs are advised to exercise utmost caution in issuing PRCs to avoid any possible 
misuse. Any irregularity shall be treated as violation of Bangladesh Bank‟s instructions. ADs 
are also advised to extend their full co -operation to different government ag encies regarding 
verification of any PRC if approached.  
 
30. Discounting of direct and deemed export bills in foreign exchange  
Beneficiaries of usance export bills against direct and deemed exports of products produced 
in Bangladesh may arrange to discou nt bills for immediate financing through their ADs, 
subject to compliance with the following instructions:  
(a) ADs shall have to be ensured that the usance bills presented for discounting are derived 
from bonafide direct/deemed export transactions; 
(b) ADs may arrange fund against the discounting of usance bills in foreign exchange through 
their own fund/OBUs/correspondent banks, financial institutions abroad or international 
financing institutions; 
(c) Expenses of the customers for discounting bills shall  not exceed mark -up of 3.00 
percent5over benchmark rate, e.g. SOFR, Euribor etc. (all in cost) including all types of 
commissions/charges/fees/interests; 
(d) Proceeds from such discounting may be retained in relevant single pool for import 
payments/back to back liabilities. Type C enterprise of specialized zones can avail this facility 
under the stipulations in this regard.  
 
31. Right to assignment of export bills 
General permission is granted to assign an exporter‟s rights to a usance export bill in favor of a 
licensed bank or financing institution abroad, provided the institution has fully prepaid the 
usance bill as a final and without-recourse settlement, subject to adherence with the instructions 
outlined in paragraph 30 above. 
 
32. Insurance coverage against financing to exporters  
(1) ADs may, at their option, safeguard their financing against bill discounting on recourse 
basis by appropriate insurance coverage available from insurance companies locally as an extra 
comfort. Before obtaining insurance coverage, ADs should take consent from exporters in this 
regard. 
(2) Besides post shipment financing, the proposition of offsetting the default risk by 
appropriate insurance coverage may be adopted against funded or non -funded facilities to 
exporters at pre-shipment stage. 
(3) Financing safeguard by insurance coverage will not give waiver from realization of export 
proceeds. Hence, export proceeds need to be repatriated as per requirement of foreign exchange 
regulations in force.  
                                                           
5FEPD-1 Circular No. 10, dated May 11, 2026 

11 
 
Part-B 
EXPORT FROM THE SPECIALIZED ZONES  
 
1. Principles and procedures 
There are different specialized zones operating in Bangladesh. They are Export Processing 
Zones (EPZs) established by the Bangladesh Export Processing Zones A uthority Act, 1980; 
Private Export Processing Zones (PEPZs) established by the Bangladesh Private Export 
Processing Zones Authority Act, 1980; Economic Zones (EZs) established by the Bangladesh 
Economic Zones Act, 2010;  and Hi -Tech Parks (HTPs) establishe d by the Bangladesh Hi -
Tech Park Authority Act, 2010.  The following types of industrial enterprises operate in the 
specialized zones:  
(a) Type A: 100 percent foreign owned including those owned by Bangladeshi nationals 
ordinarily resident abroad; 
(b) Type B: Joint venture projects between foreign and Bangladesh entrepreneurs resident 
in Bangladesh; and 
(c) Type C: 100 percent Bangladeshi entrepreneurs resident in Bangladesh.  
Developers and different service providing companies (water supply/treatment,  cleaning, 
dust management, effluent treatment plant, etc.) operating in specialized zones, exclusively 
formed and registered to serve a particular zone will be treated as industrial enterprises of 
zones for foreign exchange regulation purposes. 
 
2. Declaration of export 
Exports from specialized zones are subject to the usual requirement of declaration of exports 
in EXP Form and repatriation of export proceeds.  
 
3. Disposal of export proceeds 
Export proceeds against export of exporting enterprises will be released to their foreign 
currency accounts in accordance with Part-P of this circular. 
 
4. Discounting of accepted usance bills of specialized zones’ enterprises (Type A and B) 
Balances in No n-Resident Foreign Currency Deposit (NFCD) accounts may be utilized for 
discounting usance bills drawn by Type A and Type B enterprise of specialized zones for 
supplying raw materials under back to back arrangement and accepted by ADs operating 
outside spe cialized zones. However, utilization of NFCD fund for the above purpose 
including payment for back to back sight LCs as instructed will not exceed 50% of total 
NFCD balance of the concerned AD.  
 
5. Sale of Bangladeshi goods to enterprises in specialized zones 
Sales of Bangladeshi goods or raw materials to the enterprises in specialized zones against 
payment in foreign currency shall be treated as exports from Bangladesh and normal foreign 
exchange regulations concerning declaration of exports on EXP Forms and repatriation of 
proceeds is applicable to these exports to zones‟ enterprises. 
 
Exports to specialized zone areas shall be considered as imports by respective enterprises. In 
such cases, ADs of zone enterprises may report such import transactions to Bangladesh Bank in 
monthly schedule E-2 under Statement-10 or Statement-11 (as the case may be) mentioning the 
number of concerned EXP Forms to which the payment in foreign currency relate. This 

12 
 
procedure of mentioning EXP numbers will also be applicable for  transactions between EPZ 
enterprises and intra EPZ enterprises. The above procedure will be applicable for reporting in 
online web portal. Usual IMP Form reporting procedures will, however, be applicable for 
imports by EPZ enterprises from abroad. 
 
National Board of Revenue (NBR) vide its order no. 288/2017/Customs/529 dated December 
21, 2017 effects relevant amendment in the Customs (Economic Zones) Procedures, 2017 to 
waive export/import formalities (EXP/IMP) for transactions between enterprises operatin g in 
Domestic Processing Area (DPA) of EZs and in Tariff Area (TA) of Bangladesh. 
Accordingly, EXP Form procedure will not be applicable for such EZ enterprises to sell 
goods in Taka to TA. Hence, transactions by DPA enterprises in EZs irrespective of thei r 
ownership status are allowed to settle their liabilities for imports and other permissible 
expenses out of the fund held in their Taka accounts.  

13 
 
Part-C 
EXPORT TRADE TRANSACTIONS, APPROPRIATE SAFEGUARDS 
 
1. Regulations for cross-border banking and AML/CFT compliance 
ADs are permitted to maintain accounts in freely convertible/permissible currencies with 
their correspondents/branches abroad. The relevant regulation requires ADs to comply with 
AML/CFT regulations for maintaining relationship, opening of nostro accounts, and 
transactions with correspondents. In addition, different regulatory instructions are in place for 
containment of risk factors against cross-border transactions, such as: 
(a) Procedures are contained in „Core Ri sk Management in Banking: Foreign Exchange 
Risk Management‟ to maintain cross -border correspondent banking relationships, including 
observance of applicable extended due diligence and restriction to maintain any 
correspondent relationship with shell banks, inter alia; 
(b) Circular No. 26  issued by Bangladesh Financial Intelligence Unit (BFIU) on June 16, 
2020, including its subsequent  circulars outlines instructions to be follow ed regarding 
selection of customers and establishment of correspondent relations with banks abroad, inter 
alia. The instructions contained therein restrict to establish and conduct transactions with 
shell banks; and 
(c) Preventive measures are available in  Guidelines for Prevention of Trade Based Money 
Laundering issued by BFIU, etc. 
 
2. Safeguards for export trade transactions 
To ensure safeguards in export trade, ADs need to observe appropriate measures before 
execution of transactions as noted hereunder: 
(a) ADs shall facilitate export transactions under LCs routed through authenticated channels 
from banks with whom appropriate relations are in place; 
(b) ADs shall, in addition to be ensured of apparent authenticity of LCs, satisfy themselves 
of bonafide of applicant banks/issuing banks in case of LCs received through authenticated 
channels from third banks. In this case, ADs need to be ensured that applicant banks/issuing 
banks will receive export documents directly from respective ADs or through third 
banks/other authenticated banks with whom respective ADs maintain appropriate 
relationship; 
(c) In case of transferred LCs, ADs shall satisfy themselves of bonafide of first beneficiary 
and transferring bank in addition to the LC applicant banks/issuing bank; 
(d) ADs shall satisfy bonafide of importers abroad as per paragraph 13(1)(c), Part -A of this 
circular; 
(e) ADs shall conduct due diligence regarding importers‟ banks designated for the 
transactions under sales contracts for being ensured of their step by  step responsibilities 
regarding release of export documents to importers and procedural arrangement of payment 
as per prevailing regulations and relevant provisions of the URC in force. In this case, ADs 
need to be ensured that importer‟s banks will recei ve export documents directly from 
respective ADs or through third banks/other authenticated banks with whom respective ADs 
maintain appropriate relationship; and 
(f) ADs shall adopt other measures as deemed necessary. 

14 
 
3. Guidance for exporters in case of transaction issues 
In case of paragraph 2 above in trouble to be executed, and/or any doubt regarding the 
transactions, ADs shall guide exporters so that they can take appropriate measures for 
execution of the transactions, such as: 
(a) To change designated banks of importers acceptable to ADs; 
(b) To bring the transactions under external payment guarantees as per Part-D of this circular; 
and 
(c) To make other suitable arrangements.  

15 
 
Part-D 
EXPORT UNDER OPEN ACCOUNT CREDIT TERMS 
 
1. Open account credit terms for exports 
ADs may allow exporters to ship goods on sales contracts under open account credit terms 
within the statutory period, if otherwise not extended, from the date of shipment, subject to 
compliance with following instructions:  
(a) Exports shall be executed against payment undertaking/payment risk coverage for 
settlement of export bills/receivables within the permissible statutory period by international 
factoring companies/foreign banks/foreign financial institutions/trad e fina nciers/insurance 
entities (hereinafter referred to as designated institutions) arranged in association with 
importers and/or exporters. 
(b) Payment undertaking/payment risk coverage by designated institutions abroad shall be, 
in case of default by importer s, received in such a way so as to be ensured of payment on 
priority basis in accordance with appropriate underlying arrangements for settlement on the 
basis of physical/electronic presentation of export invoices/bills/documents. 
(c) Payment undertaking/pa yment risk coverage from designated institutions abroad may 
contain option for early payment arrangement before maturity against the relative export 
bills/receivables. Early payment shall be arranged on non -recourse basis from designated 
institutions or de signated financiers based on the payment undertaking/payment risk 
coverage.  
 
2. Financing and payment terms 
ADs shall satisfy themselves that exporters are appropriately financed. Expenses to exporters 
for guarantee commission against payment undertaking/ payment risk coverage, and interest 
with relevant charges for early payment against export bills/receivables shall not exceed 
mark-up of 3.00 percent6 over benchmark rate, e.g., SOFR, Euribor etc. (all in cost) annually. 
These will, however, not include no rmal bank charges required for transactions. For 
calculation of FOB export value, such charges need to be adjusted. Additionally, ADs may, in 
case of export claims, exercise the permissible authorization on outward remittances for 
effecting the respective payments.  
 
3. Competitive export pricing 
Export price declared in EXP Form shall be competitive in consideration of necessary costs 
for underlying periods of export under open account credit terms.  
 
4. Counterparty arrangements and membership requirements 
ADs should have counterparty arrangements/relations for such transactions with designated 
institutions of repute with acceptable credit ratings operating under the licenses of central 
banks/competent authorities, for which they may join globally recognized professional bodies 
having representation for the services. Payments on account of membership/affiliation/ 
subscription required for joining such bodies are remittable abroad subject to deduction of 
applicable taxes. 
 
                                                           
6FEPD-1 Circular No. 10, dated May 11, 2026 

16 
 
5. Issuance and handling of transport documents 
ADs may allow transport documents to be issued in accordance with underlying arrangements 
among the parties. In case of issuance of transport documents in the name of importers or other 
nominated parties as per arrangements, ADs may give instructions (as per Appendix-10) to 
carrier companies. Export invoices/bills/documents can be sent abroad through banking channel/ 
electronic platform/suitable arrangements directly to designated institutions/importers/other 
relevant parties as per requirement of the underlying arrangements.  
 
6. Timeline for submission of export documents 
The process to send the export invoices/bills/documents abroad as noted at paragraph 5 above 
needs to be completed within 14 days from the date of shipment. Within this period, 
exporters shall submit a full set of export documents, including signed EXP Form to ADs for 
regulatory compliance as referred to paragraph 19, Part-A of this circular.  
 
7. Early payment facilities for exporters 
Subject to observance of relevant instructions noted herein, ADs may extend early payment 
facilities to exporters on non-recourse basis out of their own funds against payment undertaking 
/payment risk coverage from design ated institutions abroad. ADs shall ensure that the fund 
used for early payment is not committed for otherwise use. Payment guarantee commission 
payable abroad shall be within the all-in-cost limit to be charged to exporters as per paragraph 
2 of this Part.  
 
8. Assignment of export proceeds 
In case of exercise of early payment option, relevant portion of export proceeds may be 
assigned to designated institutions or designated financiers abroad as per arrangements in terms 
of  paragraph 31, Part-A of this circular. 
 
9. Verification of export and compliance with KYC/AML standards 
ADs shall be satisfied with the bonafide of underlying exports shipped from Bangladesh for 
which export invoices are to be financed and shall comply with KYC and AML/CFT standards, 
including applicable tax regulations on relevant expenses payable abroad.  
 
10. Consultation on international factoring guidelines 
ADs may, for technical support, consult with the Guidelines on International Factoring 
prepared by the technical committee on factoring.  
 
11. Payment undertaking/payment risk coverage from local insurance companies7 
ADs may also arrange payment undertaking/payment risk coverage available from insurance 
companies operating in Bangladesh.  
(a) Operational modalities for such insurance coverage shall be as follows:  
(1) Policy for insurance coverage shall be issued in foreign currency;  
(2) Policy premia shall be payable by ADs from the ERQ accounts of the respective 
exporters; and 
                                                           
7FE Circular No. 39, dated October 07, 2025 
 

17 
 
(3) In case of default in repatriation of export proceeds, insurance claims shall be realized 
in foreign currency, for  which necessary arrangements must be in place with the insurance 
companies concerned.  
(b) Insurance companies extending payment undertaking/payment risk coverage shall obtain 
appropriate reinsurance coverage from external sources as per their regulatory frameworks. 
ADs may remit reinsurance premia in terms of Part-H of FE Circular No. 37, dated September 
30, 2025 and subsequent amendments. 
(c) To facilitate transactions in foreign currency, ADs may allow insurance companies to 
maintain foreign currency accounts.  
(1) The accounts will be treated as parking accounts for:  
(i) Receiving policy premia;  
(ii) Making outward remittances on account of reinsurance coverage;  
(iii) Depositing inward remittances on account of claim settlements from external 
sources; and 
(iv) Making payments to ADs for settlement of claims against respective exports.  
(2) Unencumbered funds held in FC accounts need to be encashed and transferred to Taka 
accounts of respective insurance companies.  
(d) Based on insurance coverage under the above authorization, A Ds may extend early 
payment facilities to exporters as per paragraph 7 of this Part. Such early payment may also be 
arranged by ADs through their Offshore Banking Units in terms of D(3) of FE Circular No. 11, 
dated January 30, 2025. 
 
12. Payment undertaking/payment risk coverage for documentary collection 
Payment undertaking/payment risk coverage8 from insurance companies operating in Bangladesh 
may also be used for exports un der usance terms on documentary collection. Accordingly, the 
provisions at paragraph 11 above shall be applicable for such export transactions. 
 
 
 
  
                                                           
8FEPD-1 Circular No. 02, dated January 06, 2026 

18 
 
Part-E 
ELECTRONIC PRESENTATION OF EXPORT DOCUMENTS UNDER 
DOCUMENTARY COLLECTION ARRANGEMENTS9 
 
1. Electronic presentation of export documents  
ADs may enable secure electronic submission and processing of export documents under 
Documentary Collection arrangements. To align export procedures with ongoing 
digitalization initiatives, ADs may process export documents through bank-to-bank electronic 
means, upon receipt of the underlying paper documents from exporters under both 
Documents against Payment (DP) and Documents against Acceptance (DA) modes, subject 
to compliance with the following instructions.  
 
2. Scope 
These instructions shall apply to export documents handled under the Uniform Rules for 
Collections (URC 522) Supplement for Electronic Presentation (eURC), where documents 
are presented electronically in accordance with the latest version of eURC . To facilitate the 
bank-to-bank handling of export collections, ADs should ensure that:  
(a) Prior mutual agreement exists between respective ADs and their overseas counterparts, 
such as collecting and/or presenting banks.  
(b) ADs shall also agree on the  format in which each electronic record will be issued and 
presented, and the designated place of presentation to collecting or presenting banks.  
 
3. Sales contracts 
Sales contracts should indicate that documentary collection will be handled electronicall y, 
guided by the Uniform Rules for Collections (URC 522) Supplement for Electronic 
Presentation (eURC).  
 
4. Electronic documents 
Electronic documents shall include all documents required under export contracts and 
accompanying collection instructions, inc luding title documents to cargo, bill of exchange 
(draft), as mutually agreed. ADs shall adhere to the following:  
(a) Where the local law of collecting and/or presenting banks permits Electronic Transferable 
Records (ETRs): ADs may present all documents electronically, in an agreed format, and at a 
mutually designated place of presentation. ADs shall ensure that the title, transferability, and all 
associated legal attributes of any ETR remain fully preserved and unaltered when transitioning 
from physical to electronic form or when issued electronically; or  
(b) Where the local law does not permit ETRs: ADs may present all documents, other than 
the documents related to title to goods or possessing transferability features (such as, but not 
limited to, bill o f lading, promissory note, and bill of exchange (draft)) electronically, in an 
agreed format and at a mutually designated place of presentation. Documents title to goods or 
possessing transferability features shall be sent physically to the delivery addres s as mutually 
agreed; or  
(c) Where collecting banks require physical documents in addition to electronic 
presentation: ADs may additionally provide authenticated electronic copies marked 
                                                           
9FEPD-1 Circular No. 01, dated January 06, 2026 

19 
 
“Electronically Received -Authenticated Copy.” Where electronic submi ssion is not 
acceptable to counterpart banks or jurisdictions, the traditional mode of submission shall 
apply.  
(d) Legal validity of ETRs: In all cases, ADs shall ensure that any ETR retains all features 
equivalent to paper-based documents and remains fully valid and legally enforceable. 
 
5. Endorsement of title documents 
ADs may endorse title documents in a practical and secure manner. For electronic transport 
documents issued through recognized electronic platforms, ADs may endorse using digital 
signatures or platform -based endorsement tools, with platform -generated audit trails serving 
as valid proof of endorsement. For scanned or electronically submitted transport documents, 
ADs may issue a Digitally Signed Endorsement Certificate (DSEC) referencing the  relevant 
document. Where acceptable to collecting banks, SWIFT -based endorsement messages may 
also be used.  
 
6. Transmission to collecting/presenting banks 
Electronic document sets may be transmitted to collecting banks through secure and mutually 
acceptable channels, ensuring compliance with collection instructions and maintaining full 
traceability of dispatch.  
 
7. Realization and monitoring 
Upon receipt of  payment or acceptance advice from collecting banks, ADs shall deal with 
export proceeds in accordance with prevailing foreign exchange regulations and shall monitor 
DA bills for realization within prescribed timelines.  
 
8. Record maintenance and security 
ADs shall maintain a complete audit trail of electronic submissions and endorsements, store 
electronic documents securely for the period required under existing regulations. ADs shall 
verify digital signatures in accordance with the regulations in force i n this regard. ADs are 
encouraged to align their systems progressively with recognized information security 
standards.  
 
9. Implementation 
ADs may commence electronic processing of export documents under Documentary 
Collection arrangements on a pilot basis  and expand the coverage gradually. Adoption shall 
follow a risk -based and phased approach to ensure a smooth transition while maintaining 
operational integrity, legal enforceability, and security of processes. ADs shall inform 
Bangladesh Bank promptly the initiation of piloting activities. 
 
 
  

20 
 
Part-F 
PILOT FRAMEWORK10 FOR DIGITAL PROCESSING OF TRADE DOCUMENTS 
UNDER DOCUMENTARY COLLECTIONS AND LETTERS OF CREDIT 
THROUGH APPROVED TRADE CORRIDORS 
 
1. Pilot framework for digital processing 
A pilot framework for digital processing of trade documents covering both export and import 
transactions under documentary collections and letters of credit (LCs) through approved trade 
corridors is introduced with a view to further advancing digitalization in cross-border trade and 
enhancing efficiency, transparency, and resilience in trade finance operations. This framework 
aims to support interoperable, secure, and legally reliable electronic trade documentation, 
including Electronic Transferable Records (ETRs), in line with evolving international standards. 
 
2. Scope and coverage 
The instructions shall apply to: 
(a) Export transactions under documentary collections (DP/DA) governed by latest URC and 
eURC Supplement;  
(b) Export transactions under documentary credits governed by UCP in force and applicable 
electronic presentation rules (eUCP, where applicable); and 
(c) Related trade financing activities involving electronic trade documents within approved 
pilot arrangements. 
 
3. Core principles for digital trade documents 
All participants under this framework shall adhere to the following principles: 
(a) Interoperability: Electronic trade documents shall be capable of being issued, transmitted, 
received, and verified across different systems without dependency on any single platform. 
(b) Technology neutrality: No specific technology, platform, or vendor shall be mandated, 
provided minimum security and functional standards are met. 
(c) Decentralized verification: Authenticity and provenance of electronic documents shall be 
verifiable independently of the issuing or transmitting system using cryptographic or equivalent 
mechanisms. 
(d) Data privacy by design: Sensitive trade data shall remain under the control of the 
document owner and shall not be mandatorily stored in centralized or shared systems. 
(e) Legal functional equivalence: Electronic trade documents, including ETRs, shall be 
treated as functionally equivalent to paper documents where they meet applicable legal and 
operational requirements. 
 
4. Initiation of pilot trade corridors 
(1) ADs shall approach Bangladesh Bank for concurrence in principle for participation in the 
pilot framework and use of digital trade document processing arrangements. 
(2) Requests shall specify:  
(a) Proposed trade corridor(s) (country/region pair); 
(b) Counterparty banks and institutions; 
(c) Type of transactions (LC/Collection/mixed); 
(d) Technology approach and interoperability features; and 
                                                           
10FEPD-1 Circular No. 15, dated July 01, 2026 

21 
 
(e) Risk management and compliance arrangements. 
(3) Approval shall be granted subject to readiness,  safeguards, and compliance with this 
framework. 
(4) Trade corridors shall be identified to enable controlled, legally aligned and operationally 
testable pilot implementation in cross-border environments. 
 
5. Legal and contractual arrangements 
(1) Sales co ntracts, LCs, and collection instructions shall explicitly provide for electronic 
issuance, transmission, and acceptance of trade documents. 
(2) Parties shall agree that electronic documents shall be:  
(a) Operationally valid and binding; and 
(b) Acceptable for settlement, acceptance, and delivery purposes within the pilot framework. 
(3) Applicable rules (URC 522, UCP 600, eURC, eUCP) shall govern transactions to the 
extent mutually agreed among parties. 
(4) ADs shall ensure that ETRs comply, to the extent practicable, with principles consistent 
with internationally recognized legal frameworks for electronic transferable records. 
 
6. Electronic documents under documentary collections and LCs 
(1) ADs may process trade documents in electronic form, including but not limited to:  
(a) Commercial invoices; 
(b) Transport documents (including electronic bills of lading where applicable); and 
(c) Bills of exchange /drafts. 
(2) Where documents constitute ETRs, ADs shall ensure that mechanisms are in place to preserve:  
(a) Singularity: Existence of a unique authoritative version of the document;  
(b) Control: Ability to identify and transfer exclusive control to a single holder; and 
(c) Integrity: Protection against unauthorized alteration, including use of cryptograph ic 
methods or equivalent safeguards. 
(3) Unique identifiers (e.g., digital fingerprints or hashes) shall be used where feasible to 
ensure document integrity. 
(4) Where full electronic handling of title documents is not feasible, hybrid arrangements 
with physical fallback may be applied. 
 
7. Endorsement, transfer and control mechanism 
(1) Electronic endorsement of documents may be executed through:  
(a) Digital signatures;  
(b) Secure platform-based transfer mechanisms; and  
(c) A uthenticated interbank messaging systems, where required for communication of 
settlement instructions, endorsements, or operational messages, particularly where platform 
based electronic channels are not available or mutually agreed. 
These mechanisms may be used individually or in combination for the issuance, transmission, 
endorsement, authentication, and related processing of electronic trade documents under the 
approved pilot framework. 
(2) Platform-generated audit trails and system logs shall constitute evidence of:  
(a) Endorsement; 
(b) Transfer of control; and 

22 
 
(c) Receipt and acceptance. 
(3) Transfer of ETRs shall ensure that only one party exercises control at any point in time. 
 
8. Export transactions under LC and collection arrangements 
(1) Exporters may submit documents electronically to ADs under LC and collection arrangements. 
(2) ADs shall forward documents electronically to foreign banks through secure and interoperable 
channels. 
(3) Realization of export proceeds shall be monitored in accordance with prevailing forei gn 
exchange regulations. 
 
9. Technology, security and data integrity 
(1) ADs shall ensure secure transmission channels with:  
(a) Encryption; 
(b) Authentication; 
(c) Time-stamping; and 
(d) Tamper-proof audit logs. 
(2) Systems shall comply with internationally recognized information security standards. 
(3) Sensitive document data shall not be mandatorily stored in shared or public infrastructures. 
(4) ADs shall establish and maintain appropriate digital interfaces, platforms, or secure channels 
to enable their customers to electronically submit, access, track, and manage trade documents and 
related data flows under this framework. Such interfaces shall ensure data security,  user 
authentication, auditability, and compatibility with interoperable digital trade document systems. 
 
10. Use of technology service providers 
(1) ADs may utilize digital trade platforms, service providers, or open-source solutions that:  
(a) Support interoperability; 
(b) Enable independent verification of documents; and 
(c) Meet acceptable governance and security standards. 
(2) Preference should be given to solutions that avoid vendor lock -in and support cross 
platform compatibility. 
(3) Costs associated with such services may be treated as normal banking charges. 
 
11. Reporting requirements 
ADs shall observe usual reporting requirements, including additional instructions based on pilot 
outcomes. 
 
12. Implementation 
(1) The pilot framework shall be implemented on a phased basis under approved trade 
corridors. 
(2) Expansion shall be subject to satisfactory performance and regulatory assessment. 
(3) Existing foreign exchange regulations shall remain applicable unless otherwise modified. 
 
13. Continuity of existing Provision 
The provisions of Part -E of this circular shall con tinue to remain in force. The instructions 
contained therein shall apply, mutatis mutandis, to transactions not covered under the present 
pilot framework. 
 

23 
 
Part-G 
DEVELOPMENT AND FACILITATION OF 
ALTERNATIVE TRADE FINANCE MECHANISMS11 
 
1. Alternative trade finance mechanisms 
Documentary Letter of Credit (LC) arrangements remain an important and widely accepted 
instrument for facilitating international trade. At the same time, developments in global trade 
finance practices have led to the increasing use of co mplementary trade settlement and 
financing mechanisms, such as Open Account Trade, Documentary Collection, Supply Chain 
Finance including factoring, receivables financing, and other structured trade finance 
solutions. These mechanisms provide additional op tions for exporters and may support 
greater flexibility in addressing diverse commercial requirements.  
In order to facilitate the orderly development of a broader range of export trade finance 
instruments and to align domestic practices with evolving inte rnational standards, alternative 
trade finance mechanisms may be adopted gradually alongside conventional LC -based export 
transactions. 
 
2. Permissible trade finance mechanisms 
ADs may facilitate the following export trade finance mechanisms, subject to internal credit 
policies, due diligence, and applicable foreign exchange regulations: 
(a) Advance payments: In terms of the provisions contained in paragraph 22, Part -A of this 
circular, receipt of advance payment against export transactions is permissible.  
(b) Open account trade:  ADs may allow exporters to ship goods on open account credit terms, 
subject to statutory export realization period, satisfactory track record, buyer reliability, defined 
credit terms, and compliance with Part-D of this circular. 
(c) Documentary collection: AD banks may facilitate export transactions under Documentary 
Collection (DP/DA) in accordance with URC and internal risk management policies, ensuring 
proper documentation, buyer risk assessment, and monitoring of realization. 
 
3. Supply Chain Finance (SCF) 
ADs are encouraged to develop export -oriented SCF solutions including factoring and 
receivables financing. Reverse factoring may enable exporters to receive early payment against 
buyer-approved invoices. ADs intending to introduce SCF structures shall inform the Foreign 
Exchange Policy Department-1 of Bangladesh Bank prior to launch and ensure implementation 
only after regulatory acknowledgement. The submission shall include product structure, risk 
framework, credit assessment methodology, exposure limits, approval hierarchy, monitoring 
arrangements, and relevant other pertinent issues. 
 
4. Digital trade facilitation and documentation framework 
ADs are encouraged to adopt electronic and digitized trade processing systems to enhance 
efficiency, transparency, and operational resilience, and may accept electronic trade documents, 
including invoices and transport documents, subject to adequate verification mechanisms, 
acceptable assessment of counterparty and operational risks, a nd ensured legal validity and  
                                                           
11FEPD-1 Circular No. 11, dated June 11, 2026 

24 
 
enforceability. Physical documents may be required where mandated by applicable laws, 
regulations, or contractual requirements, where transaction -specific risks warrant enhanced  
controls, or where legal enforceability depends on original documents. In case of electronic 
submission of export documents, the provisions of Part-E of this circular shall be complied with. 
 
5. Regulatory and prudential requirements 
ADs shall adopt a prudent and risk based approach in facilitating non -LC trade finance 
arrangements and ensures the following:  
(a) Robust credit assessment of buyers, importers, and respective parties, as applicable;  
(b) Defined internal exposure limits based on approved risk rating systems;  
(c) Maintenance of a complete documentation trail for all trade finance transactions;  
(d) Continuous monitoring of exposures and settlement performance; and 
(e) Strict compliance with applicable AML/CFT requirements, foreign exchange regulations, 
tax laws, and other relevant regulatory provisions. 
 
6. Overarching provision  
The provisions of this Part are intended to facilitate the gradual diversification of trade 
finance mechanisms in Bangladesh. Nothing in this instruction shall restrict the continued 
use of LCs, which remain a valid and widely accepted instrument for international trade 
transactions.  
 
  

25 
 
Part-H 
EXPORT OF SERVICES INCLUDING INFORMATION  
TECHNOLOGY ENABLED SERVICES 
 
1. Export of software and data entry/processing services 
Foreign exchange earnings from export of computer  software and data entry/data processing 
services through internet or other electronic media shall be realized and reported to Bangladesh 
Bank by ADs as per following counts: 
 
(a) Where export is undertaken in physical form: As in the case of merchandise exports, EXP 
procedure as described in paragraph 12, Part-A of this circular shall be followed where export 
is undertaken in physical form, that is, where computer software and data entry/data processing 
services are exported in compact disk, flash drive, tape, etc. 
 
(b) Where export is undertaken in non-physical form: EXP procedure will not be applicable 
for export undertaken in non -physical form such as internet or other electronic media. For 
collection of proceeds against exports in non -physical forms, in structions mentioned in this 
Part and Part-I shall have to be followed by ADs and exporters concerned. 
 
2. Business process outsourcing 
Besides firms/companies, individuals may also provide services outsourced by non -residents 
through internet. The payment against the services is normally due on delivery of the services 
and it may not necessarily require documents for collection of export proceeds. In this case, 
ADs are free to credit to the account of the relevant service exporter in equivalent local 
currency after retention of foreign currency in ERQ account maintained in the name of the 
exporter subject to observance of the following terms and conditions: 
(a) ADs shall satisfy themselves on examination of the relevant documents (such as e -mail 
communication) and the message relating to the inward remittance that the payment has been 
received from the respective non-resident customers to whom services have been delivered in 
accordance with specific arrangements; 
(b) ADs shall ensure that the indi vidual beneficiaries have necessary capacities to provide 
the underlying services; 
(c) ADs shall encash the inward remittance on receipt of online Form-C (as per Appendix-
11) duly filled through electronic means from the individual beneficiaries. To mention, 
separate Form-C (ICT) (as per Appendix-12) shall be used for reporting inward remittance 
on account of ICT related services for easy codification o f the purpose and usual report to 
Bangladesh Bank in relevant statement/schedule and online reporting module. ADs are 
instructed to adhere to the instructions enumerated in the Form while reporting inward 
remittances on account of ICT related services. How ever, inwa rd remittance up  to USD 
20,000 (T wenty thousand) or equivalent against service exports may be credited in the 
respective accounts of service exporters without obtaining declaration on Form -C. In this 
context, ADs shall satisfy themselves of the b onafide of the transactions based on the 
notation of the relevant message. In case of non -availability of required information, ADs 
shall contact the beneficiaries through e-mail about the purpose of transactions; 
(d) ADs shall have secured electronic comm unication channels for Form-C under internet 
banking network, with customers. ADs shall execute transactions after being satisfied with 

26 
 
the electronic information received through authenticated channels regarding Form -C. 
Afterwards, ADs shall take a printo ut of Form-C and get it signed by beneficiaries within 30 
days for preservation. Signature will not be required if Form -C is received automatically 
through designated „app‟ having appropriate security/protection measures. ADs shall, however, 
preserve information contained in electronic Form -C. In case of inward remittances received 
favoring beneficiaries maintaining accounts with different ADs, remittance receiving ADs are 
advised to transfer the same immediately to relevant ADs through „FC Clearing BD -RTGS 
System‟; 
(e) ADs shall ensure deduction of applicable taxes, if any; 
(f) ADs shall exercise due diligence in respect of the transactions and comply with foreign 
exchange regulations, AML/CFT standards and other relevant laws/regulations in force; and 
(g) ADs shall keep records in support of the transactions and report the same in relevant 
monthly schedules/statement to Bangladesh Bank. 
 
3. Business services 
There are other service exports such as business services, professional/research and advisory 
services, etc. rendered from Bangladesh against which payments in foreign exchange are 
received through ADs. Remittances from abroad as payments against these and all other non -
agency service exports in non -physical form may also be credited to local currency ac counts 
and ERQ accounts in the names of the concerned exporters, subject to observance of the same 
instructions as stated above. 
 
4. Time limit for repatriation of export earnings 
The instructions to repatriate export proceeds against goods as noted at 8(1 ), Part-A of this 
circular are equally applicable to repatriation of export proceeds against services as defined at 
Section 2(bbb) of the FER Act, 1947. 
 
5. Export proceeds and retention abroad 
Part-I of this circular outlines operational modalities on ser vices delivered in non -physical 
form relating to ICT and other businesses. Service exporters can maintain notional/  
merchant accounts to repatriate their income through concerned ADs in Bangladesh as per 
paragraphs 3 and 5, Part -I of this circular. Excepti ng these authorized accounts, retention of 
export proceeds abroad in any form without limiting to equity/portfolio investment, 
purchase of physical assets/virtual  assets, maintenance of accounts regardless of currencies 
including cryptocurrencies constitut es contravention of Section 5(1)(e)(i) of the FER Act, 
1947 and is subject to cognizance under Section 23(1) of the said Act as per SRO No. 59 -
LAW/2021 dated March 08, 2021. 

27 
 
Part-I 
EXPORT PROCEED REALIZATION SERVICES 
 
1. Acquiring services 
In addition to transmission of IT enabled products through internet, or other electronic media, 
IT/Software exporting firms may sell their products/services to customers abroad through 
web/internet. In the context of web based trade, ADs may work as „Acquiring Banks‟ for 
realization of internet/web generated payment through International Credit Card favoring 
IT/Software firms registered and operating in Bangladesh subject to compliance with following 
terms and conditions: 
(a) ADs shall have merchant agreements with the beneficiaries having necessary approval from 
the competent authorities and necessary arrangements for safe internet transactions; 
(b) ADs shall have to be satisfied that online payment is relevant to the nature of business of 
the beneficiaries; 
(c) ADs shall make the payment, credited to their nostro accounts, available to 
beneficiaries‟ accounts on receipt of Form -C (if applicable) duly filled in from the 
beneficiaries. The ERQ accounts of the beneficiaries may be credited to the extent of 
permissible limit from the total payment provided that the transactions deserve such 
credits; 
(d) ADs shall comply with the instructions contained in paragraph 2, Part -H of this 
circular; 
(e) ADs shall keep records of the transactions with documentary e vidence in support of 
the payment; and 
(f) ADs shall have to comply with the applicable regulations of foreign exchange 
transactions, AML/CFT, Payment and Settlement Systems and other relevant 
laws/regulations in force and report the transactions with mont hly returns to Bangladesh 
Bank in the relevant schedules/statements.  
 
2. Repatriation of proceeds against export traded under E-Commerce 
ADs may enter into merchant agreements with eligible exporters to provide „Acquiring 
Service‟ in repatriating export pr oceeds received through ICC on internet against sales of 
exportable goods concluded on web platform under cross border E -Commerce. Details of the 
transaction are outlined in paragraph 1, Part-J of this circular. 
 
3. Repatriation of export proceeds through OPGSPs 
ADs are permitted to facilitate the repatriation of remittances against small value service 
exports in non -physical form such as data entry/data process, off -shore IT service, business 
process outsourcing, etc. through  OPGSPs, subject to compliance with the following 
instructions:  
(a) ADs shall enter into standing arrangements with internationally recognized OPGSPs and 
maintain separate nostro collection account for each OPGSP to repatriate the above -
mentioned service export related payments. Servic e exporters availing of this facility shall 
open notional accounts with only those OPGSPs having arrangements with ADs in 
Bangladesh. It shall be ensured that no funds are retained in such accounts and all receipts 
shall be automatically swept and pooled i nto the nostro collection account maintained by the 

28 
 
ADs. In no way, income in foreign exchange by residents can be retained in notional 
accounts like resident bank accounts. OPGSPs shall observe it with strict compliance. 
(b) This facility shall only be available for service export in non -physical form of value not 
exceeding USD 10,000 per transaction.  
(c) The following debits will only be permitted to the nostro collection account opened and 
maintained under this arrangement: 
(1) Repatriation of funds representing service export (as mentioned in the opening 
paragraph) proceeds to Bangladesh for payment to service exporters; 
(2) Payment of fee/commission to OPGSP as per the predetermined rates/frequency/  
arrangement; and 
(3) Charge back to the service recipient/importer where the service exporter has failed in 
discharging the obligations as per specifications. 
(d) ADs shall repatriate the balances held in the nostro collection account and arrange to 
credit the respective exporter‟s account with a bank in Bangladesh on being confirmed that the 
export proceeds have been swept and pooled into the nostro collection account from the 
exporter‟s notional account. 
(e) ADs shall satisfy themselves as to the bonafide of the transacti ons on examination of 
relevant documents and credit the amount in ERQ account of exporters up to the permissible 
limit at their options. The remainder (or up to full, at exporter‟s option) shall mandatorily be 
credited in local currency accounts after conv ersion. ADs shall also ensure deduction of 
applicable taxes, if any and payment thereof. 
(f) Besides online reporting and monthly reporting in schedules/statements of the transactions 
to Bangladesh Bank with appropriate purpose codes, ADs shall submit all the relevant 
information/documents relating to any transaction under this arrangement to Bangladesh Bank, 
as and when advised to do so. 
(g) Each nostro collection account shall be subject to reconciliation and audit on a quarterly 
basis as per regulatory requirements. 
(h) Resolution of all payment related complaints of exporters/service providers in Bangladesh 
shall remain the responsibility of OPGSPs concerned. 
(i) ADs entering into arrangements with any OPGSPs shall report to the Foreign 
Exchange Policy D epartment-1, Bangladesh Bank, Head Office  with necessary details. The 
arrangements are subject to strict compliance by OPGSPs with the instructions contained in 
this circular. 
(j) As usual, ADs shall exercise due diligence in respect of the transactions wi th OPGSPs 
and comply with the foreign exchange regulations, AML/CFT regulations and any other 
relevant laws/regulations in force.  
 
4. Repatriation of ICT related service income through international card 
ADs may provide facilities to credit inward remitta nces received in international card 
numbers/accounts against the services provided by individual de velopers/freelancers of 
mobile apps and g ames having acknowledgements/training/boot -camps/hackathons/course 
participation certificates on mobile application development arranged by government 
authority/BASIS, or its member organization and any other recognized training/academic 
institutes. In thi s context, ADs shall issue to individual developers/freelancers international 

29 
 
cards (termed as „Freelancer Card‟) having dua l currency units with features of being 
prepaid from abroad and observe the following instructions:  
(a) On receipts of the payment, up to eligible ERQ portion may be credited at the options 
of beneficiaries in foreign currency unit of the card, the remainder mandatorily in local 
currency unit after conversion at prevailing exchange rate.  
(b) The balance held in foreign currency unit of  the card as ERQ is usable for payment, 
through usual banking channel, on international current account transactions for bonafide 
business expenses including legitimate expenses for personal purposes. The cards may be used 
for permissible online transactions from Bangladesh. Outward remittances from foreign currency 
balance are subject to fulfillment of taxes payment obligations, if any. 
(c) Inward receipt exceeding USD 20,000  (Twenty thousand) or equivalent is subject to 
declaration on Form-C (ICT). 
(d) ADs shall report the transactions to Bangladesh Bank in relevant statement/schedule and 
online reporting system mentioning appropriate code relevant to ICT/computer services. 
 
5. Repatriation of export proceeds through payment service providers 
(1) In addition to paragraph 3 of this part, ADs may allow their service exporter -customers 
to enter into arrangements, including maintenance of merchant accounts, with international 
market places/platforms. In addition to such accounts, service exporters may maintain 
notional accounts, without limiting to licensed OPGSPs, with internationally reputed payment 
service aggregators, payment facilitators, digital wallets or other legitimate payment systems 
licensed by the regulatory authorities concerned. Accordingly, ADs s hall facilitate 
repatriation of service income deposited in their nostro accounts by international 
marketplaces/platforms including eligible foreign payment operators, regardless of having 
arrangements and maintaining separate nostro collection accounts. I n this context, ADs shall 
obtain-  
(a) Detailed information from their service exporter -customers regarding maintenance of 
merchant accounts with international market places/platforms and/or notional accounts with 
eligible foreign payment operators; 
(b) Declaration on the nature of services to be provided by service exporter -customers 
with supporting information and documents thereon; and 
(c) Undertaking from their customers to the effect that they will arrange repatriation of 
the service income within st atutory period either by way of (i) concerned market places/  
platforms or eligible foreign payment operators, or (ii) credit to their merchant/  notional 
accounts for immediate transfer to Bangladesh. Accordingly, customers‟ due diligences and 
other regulatory compliances need to be observed. 
(2) While on receipt of inward remittances in nostro accounts on account of service income 
by way of international market places/platforms or eligible foreign payment operators as per 
above, ADs shall observe following procedures:  
(a) ADs shall credit the receipts in equivalent local currency to respective bank accounts, 
or arrange to transfer the same to digital wallets maintained with Mobile Financial Service 
Providers licensed by Bangladesh Bank. At the option of the ir service exporter -customers, 
ADs may make the fund available to ERQ accounts up to the permissible limit before transfer 
the equivalent local currency to respective bank accounts/digital wallets. 

30 
 
(b) In case exporters‟ ADs are different, at the option of  service exporters for maintaining 
ERQ accounts, ADs repatriating service income shall transfer the repatriated fund through 
nostro/clearing accounts of Bangladesh Bank to concerned ADs in invoicing currency. For such 
transfer, beneficiary ADs will follow reporting routine to Bangladesh Bank. 
(c) Regulations on deductions of applicable taxes and payment thereof need to be complied 
with. 
 
(3) Service income is to be repatriated in permissible currencies as per paragraph 9 , Part-A 
and within statutory period as prescribed in paragraph 12, Part -H of this circular . Service 
exporters can operate no accounts abroad for store of value other than merchant or notional 
accounts as per above. 
(4) At the option of international market places /platforms and eligible foreign payment 
operators, ADs may maintain KYC and AML/CFT compliant foreign currency accounts and 
non-resident Taka accounts in their names as per general authorization of foreign exchange 
regulations for payments on account of se rvice income by debit to the accounts, subject to 
observance of relevant instructions as noted at paragraph 5(2) of this part. 
(5) ADs shall observe reporting routine to Bangladesh Bank with appropriate codification 
and comply with the relevant foreign exc hange regulations, AML/CFT norms and any other 
relevant laws/regulations in force.  
 
6. Repatriation of income from IT related services/small value export proceeds12 under E-
Commerce through MFSPs and PSPs 
(1) Mobile Financial Service Providers (MFSPs) and Payment Service Providers (PSPs) 
licensed by Bangladesh Bank are allowed for repatriation of export proceeds in association with 
internationally recognized OPGSPs/digital wallets and/or aggregators having operations in 
multiple countries (hereinafter refer red to as foreign payment service providers, PSPs). 
Accordingly, MFSPs and PSPs shall: 
(a) Have standing arrangements with foreign PSPs.  
(b) Maintain settlement accounts in equivalent Taka with ADs, under agreements for 
this particular purpose, through who m repatriation of export proceeds shall be channeled by 
foreign PSPs. 
(c) Make funds available to digital wallets of eligible exporters upon credit of the fund 
in settlement accounts.  
(d) Maintain electronic records of transactions in detail and make them available to 
Bangladesh Bank as and when required.  
 
(2) ADs shall observe, in connection with operation of the transactions, the following 
instructions:  
(a) ADs shall transfer the fund, on receipt in their nostro accounts, to settlement accounts 
in equivalent Taka of MFSPs and PSPs. While executing the transfer, ADs shall comply with 
deduction and payment of taxes, if applicable. 
(b) As an alternative to above, ADs may maintain accounts in the name of foreign PSPs at 
their desire in foreign currency/Taka a s per foreign exchange regulations to facilitate the said 
transfer by debit the accounts. Overdraft facilities may be allowed for the accounts so 
                                                           
12FE Circular No. 43, dated November 05, 2025 

31 
 
maintained provided that ADs shall have payment guarantees from banks acceptable to them 
for the adequate amounts based on the transaction flows. 
(c) ADs may maintain ERQ accounts in the name of ITES exporters to be arranged in 
association with MFSPs and PSPs up to the extent of permissible limit from repatriated 
proceeds. In this case, ADs shall make funds availa ble to ERQ accounts as per standing 
arrangement in foreign currency before transfer of the funds to settlement accounts of MFSPs 
and PSPs. 
(3) MFSPs and PSPs entering into arrangements with foreign PSPs shall intimate through 
their designated ADs to Paymen t Systems Department -1 and Foreign Exchange Policy 
Department-1 at Bangladesh Bank, H ead office with necessary details. They shall observe 
admissible procedures to execute transactions in accordance with regulatory instructions issued 
by Bangladesh Bank from time to time. 
(4) Due diligence in respect of the transactions needs to be observed regarding foreign 
exchange/payment systems regulations, KYC and AML/CFT standards and relevant 
laws/regulations in force. 
(5) ADs maintaining settlement accounts may issue encashment certificates in support of 
remittances on request from MFSPs and PSPs electronically. In this case, the request needs to 
be supporte d by auto -generated information -beneficiary‟s name, wallet account number, 
amount in Taka, and date of credit from remittance service provider abroad. Based on their own 
screening parameters regarding the information, designated ADs shall generate electronic 
encashment certificate (as per Appendix-13) with QR code accessible to beneficiaries through 
MFSPs and PSPs. The above -mentioned certificate is intended to be used for Income Tax 
purposes only.  
(6) To further facilitate the smooth receipt of small -value export proceeds against cross 
border E-Commerce transactions, licensed MFSPs and PSPs may also handle repatriation of 
export proceeds against export of goods up to USD 1,000 or equivalent without the requirement 
of declaration on EXP Form as per paragraph 5, Part-J of this circular, subject to the following 
conditions:  
(a) MFSPs and PSPs shall comply with the instructions outlined in paragraph 6 of this part. 
Nominated ADs shall facilitate the transactions as per the terms of reference set forth at 
paragraph 6(2) of this part.  
(b) MFSPs and PSPs shall conduct due diligence before on boarding E -Commerce 
exporters.  
(c) MFSPs and PSPs shall credit customers‟ accounts, upon electronic receipt of the Bill of 
Export from exporters, out of the funds held in settlement accounts maintained with nominated 
ADs. 
 
7. Retention of foreign currency and outward remittance 
ADs need to intimate individual beneficiaries regarding their option for retention in foreign 
currency in ERQ accounts before encashment of inward remittances. Without their consent, 
ADs should not outrightly encash inward remittances for credit in Taka accounts. ADs 
should also guide their customers on facilities of outward remittances out of retention 
amount for bonafide current account transactions as per rele vant ERQ regulations . 

32 
 
Part-J 
EXPORT THROUGH E-COMMERCE 
 
1. Business-to-Consumer export through sales orders against receipt in advance  
In order to promote Business -to-Consumer export by hosting goods on E -Commerce 
website accessible through  internet to foreign buyers, ADs are allowed to provide acquiring 
services to eligible exporters for repatriation of export proceeds against sales orders of 
exportable goods received on E -Commerce website. In this context, ADs shall observe the 
operational procedures as outlined below:    
(a) ADs shall have the merchant agreement with the exporters having necessary arrangements 
for safe internet transactions; 
(b) This facility shall only be available for small value export of value in Cost and Freight 
(CFR) term not exceeding USD 5,000 per transaction. Transport documents for shipment of 
the goods with EXP Form procedure may be issued in the name of foreign buyer;  
(c) On receipt of internet settled full export proceeds in convertible foreign currency in 
nostro accounts, EXP Form formalities can be observed. Procedure for ARV needs not to 
be observed in this regard;  
(d) Settlement may be executed by way of international cards, OPGSPs, digital wallets, 
and other legitimate payment systems licensed by the concer ned regulatory authorities. 
ADs shall observe due diligence for secured arrangements with foreign counterparts by 
which the payments so received need to be credited in their nostro accounts before making 
the fund available to customers;  
(e) ADs shall, on r eceipt of electronic EXP Form from exporters not exceeding 14 days of 
shipment, credit export proceeds to the respective accounts (up to permissible limit to ERQ 
account and remainder in Taka account) of exporters and report the execution of export 
with pr oceeds realized in the online reporting system. ADs shall also observe routine 
procedures to report the transactions to Bangladesh Bank in usual monthly returns;  
(f) In case of failure to execute the export, the payment credited in nostro accounts may 
be refunded to foreign buyers; and  
(g) ADs shall exercise due diligence in respect of the transactions and comply with 
relevant laws/regulations in force.  
 
2. Business-to-Consumer (B2C) export against orders received from globally recognized 
online marketpla ces/platforms 13 
(1) In order to widen the scope of B2C exports and facilitate direct access of Bangladeshi 
exporters to global consumers, exportable goods may be listed for display on globally 
recognized online marketplaces/platforms accessible through the internet to foreign buyers. 
The operational procedures for execution of such transactions are outlined below:  
(a) Engagement with online marketplaces/platforms: ADs shall verify that exporters 
maintain valid merchant/participation agreements with globally recognized online marketplaces 
/platforms, encompassing payment settlement and dispute resolution mechanisms. 
(b) Transaction limit: The facility shall be extended exclusively to small-value exports undertaken 
on Cost and Freight (CFR) terms, not exceeding USD 5,000 or equivalent per transaction. 
                                                           
13FEPD-1 Circular No. 12, dated June 15, 2026 

33 
 
(c) Shipping documentation: Transport/shipping documents may be issued in the name of  
foreign buyers. 
(d) EXP Form procedures: EXP Form procedure shall not be required for shipments up to 
USD 1,000 (or equivalent) per shipment as per paragraph 5  of this part, provided that full 
export proceeds have been received in advance through banking channels or legitimate digital 
payment systems. For all other shipments, EXP Form procedure shall be applicable in 
accordance with existing instructions. 
(e) Repatriation of export proceeds: Export proceeds shall be repatriated by online 
marketplaces/platforms or overseas buyers through banking channels or legitimate digital 
payment systems within the prescribed repatriation period from the date of shipment. 
(f) Marketplaces/platforms charges and commission: Fees, commissions, or other charges 
payable to online marketplaces/platforms shall conform to the limits stipulated under paragraph 
20, Part-A of this circular. ADs shall ensure the transparency and reasonableness of such charges.  
(g) Advance payments and realization:  
(i) ADs shall, upon receipt of the copy of electronic EXP Form (where applicable) 
within 14 days of shipment, credit the proceeds to exporters‟ accounts (up to 
permissible limit in ERQ account and remainder in Taka account). 
(ii) ARV procedure shall not be required for such advance receipts. 
 
(2) Refunds settlement: In the event of quality claims or returns arising in accordance with 
the rules of the respective marketplaces/platforms:  
(a) Refund from ERQ accounts: ADs are authorized to permit refunds to overseas buyers 
from balances held in ERQ accounts, upon due verification of bona fide claims of overseas 
buyers submitted by exporters;  
(b) Refund from exporter‟s Taka account: Where insufficient balances exist in ERQ 
accounts, refunds may be effected from the exporter‟s Taka account. 
 
(3) Remittances for services of marketplaces/platforms: ADs may effect remittances towards 
subscription, registration, membership, and ot her service -related fees payable to online 
marketplaces/platforms, subject to the following:  
(a) Such remittances shall preferably be undertaken from balances available in exporters‟ 
ERQ accounts;  
(b) In the absence or insufficiency of ERQ balances, remittances may be effected up to USD 
5,000 (Five thousand) per annum under the provisions of paragraph 2(5), Part-O of this circular;  
(c) ADs shall ensure that such remittances are supported by valid invoices commensurate 
with the nature and volume of export activities conducted through the respective platforms; and  
(d) Applicable taxes, if any, shall be duly deducted and/or remitted in accordance with the 
laws and regulations in force prior to effecting such remittances. 
 
(4) Reporting and compliance: ADs shall: 
(a) Ensure proper reporting of all export transactions and realization of proceeds in 
accordance with the prescribed reporting routine.  
(b) Maintain comprehensive audit trails for every transaction executed under this facility; and  
(c) Exercise due diligence with respect to exporters, online platforms, and payment 
arrangements, whilst ensuring compliance with all applicable for eign exchange regulations, 

34 
 
Anti Money Laundering/Combating the Financing of Terrorism (AML/CFT) requirements, and 
other applicable laws. 
(5) Reporting of exporters using online platforms: ADs shall notify Foreign Exchange Policy 
Department-1 of Bangladesh Bank, Head Office within 7 days of allowing exporters to operate 
under this framework. Such notification shall include details of customers, along with the 
relevant online marketplaces/platforms on which they intend to list exportable goods. 
 
3. Electronic declaration for E-Commerce export 
Electronic declaration of EXP Form by exporters submitted in accordance with relevant 
instructions shall be acceptable to ADs providing acquiring services for repatriation of proceeds 
against export of goods concluded on E-Commerce website.  
 
4. Business-to-Consumer export through sales orders against cash on delivery/payment 
on shipment terms 
ADs may allow business -to-consumer exports of each sale on E -Commerce website up to 
USD 500 or equivalent under cash on delivery/payment on shipment terms subject to:  
(a) ADs shall have counterparty arrangements with foreign payment service providers to 
realize the payments by debit their foreign currency accounts or Taka accounts maintained 
with ADs in terms of general authorization. 
(b) Overdraft facilities will be allowed for the accounts so maintained in Bangladesh 
provided that ADs shall have payment guarantees, from banks acceptable to them, for the 
adequate amounts based on the transaction flows.  
 
5. Small value export under Business-to-Consumer on E-Commerce website without EXP  
Declaration on EXP Form to Customs Authority will not be required for small value export up 
to USD 1,000 14or equivalent concluded on E -Commerce website against payment received 
prior to shipment. In this context, ADs shall observe following provisions:  
(a) ADs shall obtain a declaration from their customers executing export under Business-to-
Consumer on E-Commerce website to the effect that (i) they will export goods at fair value, (ii) 
they will provide shipment details like online orders, Bill of Export, courier receipts, etc. 
immediately from date of shipment, (iii) they will give details of nominated express/courier 
service providers having valid licenses from competent authority, and (iv) they will observe 
relevant provisions of the FER Act, 1947 and circulars issued thereunder; 
(b) Nominated express/courier service providers shall observe formalities with Customs 
Authority and arrange issuance of Bill of Export against the relevant shipments; 
(c) Inward remittances received prior to shipment through legitimate channels against orders 
concluded at website need to be retained in margin accounts in the name of exporters till receipt 
of  Bill of Export and other relevant documents; 
(d) On receipt of Bill of Export, ADs shall make fund available to customers‟  accounts in 
equivalent Taka excluding retention portion which may be credited in ERQ accounts at the 
option of exporters; 
(e) ADs shall report the transactions to Bangladesh Bank reporting system under E -
Commerce with reference to Bill of Export extracting from customs electronic system; 
(f) ADs may allow export under Business-to-Consumer on home delivery basis (DDP term)  
                                                           
14FE Circular No. 42, dated November 05, 2025 

35 
 
provided that sufficient amount payable to nominated express/courier service providers on 
account of relevant costs at destinations along with transport and other charges are realized 
from consumers abroad; 
(g) ADs shall make customers‟ due diligence including compliance with KYC norms and 
AML/CFT standards before onboarding exporters; 
(h) ADs shall maintain customer -wise electronic re cords of transactions which need to be 
made available to Bangladesh Bank or its inspection team as and when asked for; and 
(i) ADs shall intimate details of E -Commerce customers including express/courier service 
providers to Foreign Exchange Policy Departm ent-1 and Foreign Exc hange Operation 
Department-2, Bangladesh Bank, Head office within 7 days of allowing exporters to execute 
export under this framework.  
 
6. Exports of goods under Business to Business to Consumer framework15 
To facilitate exports of goods from Bangladesh, ADs may allow their exporter -customers to 
execute exports under Business to Business to Consumer (B2B2C) framework for sales to 
ultimate buyers through globally recognized online platforms/marketplaces. In this context, the 
following instructions need to be followed by ADs and respective exporters:  
(a) Customer registration with platforms: ADs shall obtain, among others, the documentary 
evidence of exporters‟ registration with globally recognized online platf orms/marketplaces/ 
warehouse. 
(b) Exports of goods under open account: Exports under this framework shall be made to 
„consignees‟, who are not the ultimate buyers of the goods but provide warehousing or other 
facilitating services. ADs may permit exporters to prepare shipping documents in the name of 
such consignees, which may include online platforms/marketplaces, legitimate subsidiaries/  
branches of exporters, or third-party warehousing service providers. As a customary practice of 
B2B2C framework, traditional sales contracts are not executed between exporters and 
consignees. Exporters may, therefore, declare the fair value of exports on the basis of proforma 
invoices. Shipping documents may be dispatched directly to consignees or their authorized 
agents. For this purpose, ADs shall issue a certificate (as per Appendix-10) to carriers (shipping 
lines, airlines, trucki ng companies, railways, etc.). ADs shall also obtain copies of 
contracts/agreements executed between exporters and consignees regarding the provision of 
warehousing services. 
(c) Method of realization of export proceeds: Export proceeds can be repatriated through 
traditional banking channels including legitimate payment service operators abroad as outlined 
at paragraph 9, Part-A of this circular.  
(d) Settlement of export shipments: In case of sales through platforms/marketplaces, export 
proceeds received m ay correspond to multiple shipments under different EXP Forms. As 
such, one-to-one matching may not be possible. ADs may, therefore, settle export proceeds 
realized through a specific platform/marketplace against shipments made for sales by 
following the F irst-in, First -out (FIFO) principle (i.e., earlier shipments to be settled first). 
ADs may also permit realization of proceeds in excess of the declared value, subject to due 
diligence and appropriate documentary evidence. 
                                                           
15FE Circular No. 48, November 24, 2025 

36 
 
PART-K 
FOREIGN EXCHANGE TRANSACTIONS BY  
FREELANCERS/INDIVIDUAL SERVICE EXPORTERS16 
 
1. Freelancer’s/Individual service exporter’s foreign exchange transactions 
In terms of the Foreign Exchange Regulation Act, 1947 and the re gulatory framework issued 
thereunder, ADs are permitted to facilitate foreign exchange transactions of freelancers and 
individual service exporters. With a view to ensuring smooth execution of such transactions and 
consolidating the relevant regulatory provisions in a single reference, this guidance note is hereby 
issued governing foreign exchange transactions of freelancers/individual service exporters 
engaged in the export of services in non -physical form (e.g., ICT services, BPO, and online 
professional services). 
 
2. Scope and applicability 
Export procedures applicable to physical goods, including submission of EXP Form, shall not 
apply to the export of services conducted through the internet or other electronic media. 
However, the realization, repatriation, and reporting of export proceeds against such servic es 
shall be governed by the relevant provisions of the prevailing foreign exchange regulations. 
 
3. Service export and receipt of payments 
(1) Freelancers may receive payments from non-resident customers upon delivery of services. 
Such transactions may not necessarily be supported by traditional export documents (e.g., invoices, 
shipping documents); however, they will be supported by appropriate electronic evidences. 
(2) ADs may, upon due verification of such electronic evidence, credit the equivalent amount in 
local currency to the freelancer‟s account and retain eligible portions in foreign currency in 
Exporters‟ Retention Quota (ERQ) accounts. 
 
4. Verification and documentation 
(1) In the absence of traditional documents, ADs shall satisfy themselves regarding the 
genuineness of transactions based on electronic records, including but not limited to emails, 
contracts, invoices (if available), platform statements, or other digital  communications, along 
with inward remittance messages.  
(2) ADs shall ensure that freelancers possess the necessary capability and profile consistency 
to provide the underlying services.  
(3) Inward remittances up to USD 20,000 (T wenty thousand) or equivalent may be credited 
without submission of Form -C. However, transactions exceeding this threshold shall be 
supported by online Form -C (ICT), to be submitted through designated secure digital 
applications, unless otherwise permitted under relevant instructions, including those contained 
in Part-L of this circular.  
 
5. Repatriation through OPGSPs 
(1) ADs may facilitate the repatriation of small -value service export proceeds through  
internationally recognized Online Payment Gateway Service Providers (OPGSPs). 
(2) The maximum limit per transaction shall be USD 10,000 or equivalent. 
(3) ADs shall maintain separate nostro collection accounts for each OPGSP, and funds shall  
                                                           
16 EEPD-1 Circular No. 22, dated July 22, 2026 

37 
 
be automatically swept from exporters‟ notional accounts to such accounts. 
(4) No foreign exchange earnings shall be retained in notional accounts abroad; all proceeds 
must be repatriated to Bangladesh.  
(5) ADs and concerned parties shall comply with the operational modalities and detailed 
instructions stipulated in paragraph 3, Part-I of this circular. 
 
6. Receipts through Cards, MFSPs, and PSPs 
(1) ADs may issue dual -currency „Freelancer Cards‟ to eligible freelancers for receipt of 
export proceeds, in accordance with the provisions and operational modalities outlined in 
paragraph 4, Part-I of this circular.  
(2) Mobile Financial Service Providers (MFSPs) and Payment Service Providers (PSPs), in 
association with foreign PSPs, may facilitate the repatriation of service export proceeds in 
line with the framework and instructions set out in paragraph 6, Part-I of this circular. 
(3) Funds shall be credited to digital wallets or bank accounts of freelancers in accordance 
with underlying settlement mechanisms. 
(4) ADs may maintain ERQ accounts in the name of ITES exporters in coordination with 
MFSPs and PSPs, up to the permissible retention limit out of repatriated export proceeds. In 
such cases, ADs shall ensure availability of funds in the ERQ accounts in foreign currency in 
accordance with standing arrangements, prior to onward transfer of funds to  the settlement 
accounts of MFSPs and PSPs, in line with paragraph 6(2)(c), Part-I of this circular. 
 
7. ERQ facilities and utilization 
(1) Service exporters may retain up to 50% of net export earnings in foreign currency against 
export of software, data e ntry/processing, and other I CT-related services, and up to 3 0% in 
respect of other legitimate services, in accordance with Part-O of this circular. 
(2) The remaining portion shall be mandatorily converted into Taka and credited to local 
currency accounts. 
(3) Balances in ERQ accounts may be used for bonafide current expenses such as foreign  
travel, software registration, domain/hosting fees, server maintenance, and import of equipment, 
including legitimate personal expenses. 
 
8. Taxes and regulatory compliance 
(1) ADs shall ensure deduction and payment of taxes, if applicable. 
(2) All transactions shall comply with KYC, AML/CFT standards, and relevant foreign 
exchange regulations.  
 
9. Time limit for repatriation  
Export proceeds from services shall be repat riated within the prescribed time limits 
applicable to export of goods.  
 
10. Prohibition on retention abroad  
Retention of export proceeds abroad, in any form (including foreign accounts, assets, or virtual 
assets), other than permitted notional/merchant accounts under approved arrangements, shall 
constitute a violation of the Foreign Exchange Regulation Act, 1947.  
 
11. Reporting and record-keeping 
ADs shall report all transactions to Bangladesh Bank with appropriate purpose codes and 
maintain proper records for regulatory review.  

38 
 
Part-L 
STREAMLINING THE DISPOSAL17 OF INWARD REMITTANCES AND 
ENHANCING OPERATIONAL EFFICIENCY 
 
1. Streamlining the disposal of inward remittances  
In terms of the provisions of this circular and subsequent circulars regarding (i) disposal of 
export proceeds through EXP Form formalities, including e -Commerce exports without EXP 
Form, (ii) repatriation of export proceeds received in advance under Advance Remittance 
Voucher (ARV) procedures, and (iii) disposal of other inward remittances (excluding export 
and wage remittances) through Form-C, including cases where Form-C is not required, ADs are 
required to dispose of such transactions in compliance with the applicable regulatory 
instructions. 
 
To streamline the disposal of inward remittances and enhance operational efficiency, ADs shall 
ensure timely processing and crediting of cross -border inward payment receipts, subject to 
observance of the instructions set out herein. 
 
2. Customer notification, processing and timely crediting  
(1) ADs shall notify customers promptly, through secure electronic channels, upon receipt of 
inward remittance messages. Messages received after close of banking transaction hours shall 
be notified at the beginning of the next business day.  
 
(2) Subject to regulatory compliance and risk assessment, ADs shall promptly credit inward 
remittances to beneficiaries‟ accounts through straight-through processing (STP) arrangements, 
taking into account the customer profile, transaction value and frequency, transaction type, and 
country/counterparty risk. Where STP arrangements are not operational, ADs shall apply risk-
based expedited processing so as to faci litate timely credit. Upon completion of processing, 
ADs shall credit inward remittances in line with the following timelines:  
(a) Inward remittances received during banking transaction hours shall be credited on the 
same business day; those received after banking transaction hours shall be credited on the next 
business day.  
(b) Recurring transactions shall follow the same timelines.  
 
(3) The above timelines shall apply, where all required transaction details or prior documentation 
are available.  
(4) Where all essential information for crediting is available, ADs may credit the beneficiaries‟ 
accounts even if some documents or checks are pending. Remaining items shall be completed 
later as part of routine post-credit review and monitoring, without delaying the credit.  
(5) Where effective post-credit review and monitoring is not feasible due to the requirement 
for additional due diligence, regulatory checks, or documentation, ADs shall undertake pre -
credit verification in the following situation, including but not limited to:  
(a) Inward remittances involving new customers or customers with no recent transactional 
history;  
(b) Transactions originating from, or routed through, jurisdictions classified as high-risk in 
accordance with applicable guidelines;  
                                                           
17FEPD-1 Circular No. 03, dated January 08, 2026 

39 
 
(c) Transactions with incomplete, or inconsistent information relating to the stated purpose 
or the underlying transaction;  
(d) Remittances subject to specific regulatory requirements, or approvals; and  
(e) Transactions flagged by sanctions screening systems, transaction monitoring systems, or 
manual review. ADs shall identify such cases immediately upon receipt of the inward 
remittance, prioritize their processing without undue delay, and complete settlement at the 
earliest practicable time, not exceeding 3 business days.  
ADs shall maintain a daily follow -up mechanism to monitor progress and ensure timely 
resolution of such cases.  
 
3. Use of intraday confirmations and reduction of end-of-day dependency  
(a) ADs should reduce dependence on end -of-day or next-day nostro account statements for 
crediting inward remittances and, to the extent feasible, use intraday credit confirmations and 
scheduled intraday statements to enable faster credit to beneficiaries.  
 
(b) ADs shall put in place appropriate mechanisms, systems, and controls to ensure timely 
reconciliation of nostro account balances and confirmation of incoming credits. Such reconciliation 
may be undertaken on a near real-time basis or at frequent periodic intervals, commensurate with 
the bank‟s operational capabilities; however, reconciliation intervals shall, as a general benchmark, 
not exceed 60 minutes.  
 
4. Payment tracking, transparency, and UETR compliance 
(a) ADs shall ensure appropriate tracking of inward remittance transactions from receipt to final 
credit, including the use of the Unique End -to-End Transaction Reference (UETR), where 
applicable. ADs are encouraged to maintain a high level of compliance in updating tracker 
information in a timely manner.  
 
(b) The UETR shall be carried through domestic transactions, including inter-bank transfers, up 
to the ultimate beneficiary to ensure end-to-end traceability.  
 
5. Inter-bank transfers  
(a) Where inward remittances are received in favor of ben eficiaries maintaining accounts 
with other ADs, the receiving AD shall transfer the funds without delay to the relevant AD 
through the FC Clearing BD-RTGS System.  
(b) Ultimate beneficiaries‟ ADs shall send credit -successful confirmations to intermediary 
ADs through appropriate messaging channels, including the UETR for end -to-end reference. 
Intermediary ADs shall update payment trackers accordingly.  
 
6. Digital facilitation and customer interfaces 
(a) ADs shall establish secure digital interfaces to facil itate foreign exchange transactions, 
enabling submission of required information and documents, electronic acknowledgements, 
and monitoring of transaction status by customers. Information provided by customers via 
secure digital interfaces-including repatriated amount, remitter details, purpose of remittance, 
and other relevant particulars -shall be deemed authentic based on the customer‟s declaration 
and shall be captured, validated, and retained by ADs in an auditable and retrievable manner in 
accordance with internal controls. Information relating to inward remittances received through 
secure banking channels, including authenticated remittance messages, shall be treated 
likewise. Accordingly, Form-C and Form-C (ICT) shall stand discontinued.  

40 
 
(b) Until su ch interfaces are implemented, ADs shall collect remittance purpose and 
supporting information/documents through their existing digital channels, consistent with risk-
based controls and regulatory compliance.  
 
7. Compliance 
ADs shall take all necessary preparatory and progressive measures to ensure timely and 
effective compliance, with particular emphasis on the implementation of STP 
arrangements/risk based expedited processing, intraday credit confirmation arrangements, 
appropriate nostro account reconc iliation intervals, use of UETR for end -to-end transaction 
traceability, and the provision of digital facilitation and customer interfaces. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

41 
 
Part-M 
RE-EXPORT, ENTRE-POT, MERCHANTING TRADE AND COUNTER-TRADE 
 
1. Re-export and entre-pot trade  
Re-export and entre-pot trade by exporters of Bangladesh are subject to the guidelines of the 
Ministry of Commerce disseminated through Import Policy Order and Export Policy in force 
published from time to time. However, ADs will abide  by the following instructions in 
conducting foreign exchange transactions in such cases:  
(a) Compliance with relevant instructions of Ministry of Commerce including prescribed 
minimum value addition requirement is to be ensured; 
(b) In case of re-export, import value (including freight) will be met from repatriated export 
value only. Besides, usual IMP and EXP procedures will have to be followed in import 
(including freight) and export of goods respectively; and 
(c) In case of entre -port, import value (in cluding freight) will be met from repatriated 
export value only. Declaration in „Form -C‟, and „Form TM‟ (Appendix-14) shall be used for 
reporting receipts of export value and making import payments (including freight) 
respectively. 
 
2. Foreign exchange transactions for merchanting trade  
(1) In accordance with Export Policy in force, a trade in which goods/services procured 
from a country are shipped/delivered directly to a third country is defined as merchanting 
trade. To facilitate transactional services by ADs to their merchanting traders-customers, a set 
of operational guidelines has been formulated as outlined below: 
(a) Regulatory instructions applicable to exports (except EXP Form) and imports (except 
IMP Form) shall be complied  with for export-leg and import-leg respectively, with reporting 
routine on Form-C (at export -leg) and Form TM (at import -leg). Requirement of EXP Form 
and IMP Form respectively for export and import of goods will not be applicable. 
(b) ADs shall satisfy t hemselves with the bonafides of the transactions, including 
adherence to KYC and AML/CFT guidelines while handling such transactions. The 
counterparties to merchanting trades shall be from FATF compliant countries. 
(c) The entire merchanting trade is to be routed through the same AD. The designated AD 
shall verify the documents and satisfy themselves about the genuineness of the trade. The 
designated AD should, if necessary, make online verification of transport documents (in case 
of goods) through acceptable tracking system. 
(d) In case of the receipt of transferable LCs to execute merchanting trade, the same may 
be transferred favoring suppliers of relevant countries in terms of relevant provisions of UCP 
in force for procurement of goods/services to be so ld to respective customers of third 
countries. The payment for the procurement will be settled in observance of the procedure 
laid down in UCP. 
(e) In case fresh LCs from Bangladesh to suppliers abroad for import -leg are issued, 
import payments need to be settled out of receipts from export -leg. Import settlement, 
however, may be arranged by traders before receipts of payments from export-leg under short 
term buyers‟ credit from external sources. Traders can assign the receivables from export -leg 

42 
 
for the cr edits. ADs shall not issue any forms of payment undertaking/commitments/ 
acceptance for the credits. 
(f) Receipts from export -leg, on encashment of mark -up including deposit to retention 
quota accounts at traders‟ option, shall be retained in margin accounts maintained in foreign 
exchange till the settlement of payments under import -leg including charges. Discounted 
proceeds, if any realized before maturity, can also be retained in the said margin accounts. 
 (2) Agency commission/service charge is all owed from the receipts of export -leg retained 
in margin accounts provided that the payment does not result the transactions ending in 
shortfall of settlement of payments to suppliers abroad. The agency commission is subject to 
deduction and payment of applicable taxes. 
 (3) ADs shall satisfy themselves about merchanting traders of goods and services regarding 
their overall capabilities to perform the said trade. 
 (4) ADs shall satisfy themselves to the effect that payments for import -leg are to be met out 
of receipts from export-leg other than buyers‟ credit as per paragraph 2(1)(e) of this part. ADs 
shall, in no way, execute payments from their own sources. The difference between inward 
receipts and outward payments including relevant all charges shall be r easonably satisfactory 
for meeting local expenses and profits. ADs shall comply with regulations regarding 
deductions of applicable taxes for the transactions. 
 (5) Merchanting traders will be entitled to have retention quota facility on realized 
proceeds, net of outward remittances, in accordance with rate applicable f or service exports 
as per paragraph 1, Part-O of this circular. 
 (6) Reporting for merchanting trade transactions to Bangladesh Bank shall be done on gross 
basis with purpose as „merchanting services‟ at both legs.  
 
3. Settlement of import and export transactions through counter-trade arrangements  
(1) Bangladeshi parties (exporters/importers/traders) may voluntarily enter into counter -
trade arrangements with counterparts abroad for settlement of import payments into 
Bangladesh against proceeds of goods exported from Bangladesh. Banks may open and 
maintain Escrow accounts in relevant approved currency, with intimation to Bangladesh 
Bank, in the name of foreign counterparts or jointly with Bangladeshi parties, to execute the 
settlement of payments. Operational procedures for settlement of payments unde r counter -
trade arrangements are as follows:  
(a) Credits to Escrow accounts can be made out of import payments in approved foreign 
currencies received from importers through local banking channel supported by documentary 
evidences. 
(b) The accounts can be  debited for export payments, net of permissible commission/ 
service charges, supported by documentary evidences to exporters through local banking 
channel. 
(c) Agreed commission/service charges, on deduction of applicable taxes, will be payable 
to Bangladeshi parties in equivalent Taka from the Escrow accounts. 
(2) No interest/profit will be payable on balances held in Escrow accounts but 
unencumbered balances can be transferred, at the instructions of account holders, to other 
Escrow accounts in Banglades h for facilitating payments against exports under counter -trade 
arrangements. 

43 
 
(3) In case of underlying agreement between parties, Escrow accounts as per authorization 
in paragraph 3(1) of this part  may be opened and maintained in Bangladeshi Taka. In this  
case, import payments can be credited to the accounts against import payments received in 
Taka from importers‟ banks. The balances held in Taka accounts can be used for settlement 
of local disbursement as per  paragraphs 3( 1)(b) and 3(1)(c) of this part . A s usual, the 
accounts will bear no interest/profit. 
(4) Bangladeshi parties shall follow up with their counterparts so that the position in 
Escrow accounts can be balanced within periodical intervals. 
(5) Subject to approval from Bangladesh Bank, Banglades hi parties can open and maintain 
Escrow accounts in the countries of their counterparts for settlement of trade transactions 
under counter-trade arrangements. 
(6) All imports and exports are subject to relevant regulatory compliance and shall be 
competitive in price. ADs executing transactions on behalf of importers and making 
payments to Escrow accounts as per above instructions shall report the same to Bangladesh 
Bank in IMP Form procedures with suitable mark as „Counter -trade‟ along with matching 
formalities. Usual EXP formalities need to be observed for export transactions including 
reporting of proceeds realization with suitable mark as „Counter-trade‟. 
(7) ADs shall be satisfied with the bonafides of the underlying transactions and shall 
comply with KY C and AML/CFT standards, including reporting routines to Bangladesh 
Bank on related Online Systems and relevant schedule of statements. 
(8) The above instructions, however, shall not be applicable for transactions through the 
ACU mechanism.  

44 
 
Part-N 
EXPORT OF CURRENCY NOTES AND COINS, FOREIGN EXCHANGE, GOLD, 
SILVER, JEWELLERY AND SECURITIES ETC. 
 
1. Definition of foreign exchange 
The term foreign exchange as defined under Section 2 of the FER Act, 1947  includes 
cheques, drafts, travellers‟ cheques, letters of credit, bills of exchange and promissory notes 
expressed or drawn in foreign currency, or in Bangladesh currency but payable in foreign 
currency. 
 
2. Export of foreign exchange 
(1) Any person may take out of Bangladesh with him foreign exchange issued to him by an 
AD and endorsed on his passport. 
(2) General permission has been granted: 
 (a) To the ADs to send out of Bangladesh cheques, drafts or bills of exchange which have 
been acquired by them in  their normal course of business and within the terms of their 
authorization; and 
 (b) To a foreign national who is resident in Bangladesh, but is not domiciled in 
Bangladesh to take or send out of Bangladesh drafts or cheques drawn on their foreign 
currency accounts. 
 (3) Currency which has been brought into Bangladesh in the safes of vessels or aircraft or 
which has been taken on board vessel or aircraft with the permission of the Bangladesh Bank 
may be taken out of Bangladesh. 
 (4) Any person ordinarily resident in Bangladesh may take out foreign exchange not 
exceeding USD 10,000 (Ten thousand) or its equivalent which was brought in without 
declaration at the time of returning from abroad. 
 (5) Any person not ordinarily resident in Bangladesh including Ba ngladesh nationals 
working abroad may take out of Bangladesh any amount in foreign exchange not exceeding 
the amount declared by him to the Customs Authorities on arrival in Bangladesh. However, 
such a person may take out at the time of leaving Bangladesh foreign exchange not exceeding 
USD 10,000 (Ten thousand) or its equivalent brought in without declaration to the Customs 
Authorities on his arrival in Bangladesh. 
 (6) It is not permissible to send currency notes and coins out of Bangladesh by post/courier  
or any other means. 
 
3. Export of local currency 
Any person may take out of Bangladesh, Bangladeshi legal tender notes and coins not 
exceeding Taka 10,000 (Ten thousand) only in value at any one time. 
 
4. Export of securities 
Under Section 13(l)(a) of the  FER Act, 1947 it is not permissible for any person to take or 
send out any security to any place outside Bangladesh except with permission of the 
Bangladesh Bank. Residents in Bangladesh who are holders of foreign securities and who 
wish to send these sec urities to bank, brokers or agents abroad for purposes of sale, transfer 
etc., should apply to Bangladesh Bank through an AD for the necessary export permit. 
Permission for transfer of foreign securities will be granted provided the AD gives an  

45 
 
undertaking that the securities will be received back in Bangladesh within a specified period 
or in the case of sale, the foreign currency proceeds will be remitted to Bangladesh. 
 
5. Definition of jewellery and precious stones  
The terms jewellery and precious stone  are deemed to include all articles made wholly or 
mainly of gold, platinum, diamonds of all kinds, precious or semi -precious stones, pearls, 
whether or not mounted, set or strung and articles set or mounted with diamonds, precious or 
semi-precious stones or pearls. 
 
6. Export of gold jewellery and silver jewellery 
Export of gold jewellery and silver jewellery from Bangladesh may be effected by exporters 
registered with the office of the CCI& E as per normal EXP procedure. Back to back import 
LCs may be established by ADs for import of gold, silver and precious stones for 
manufacture and export of jewellery against export LCs received by registered jewellery 
exporters operating under the bonded  warehouse system, subject to observance of the 
minimum domestic value addition requirement prescribed in the Jewellery Export Policy 
formulated by the Ministry of Commerce (10% for gold jewellery, 15% for stone - studded 
gold jewellery and 25% for silver j ewellery). Back to back imports may also be effected 
against firm export orders in cases where import costs are met out of advances received by 
the exporter from the foreign buyer, or where the import payment is settled abroad directly by 
the foreign buyer.  
 
7. Cost of imported inputs prepaid abroad 
If the cost of imported input s is prepaid abroad by the foreign buyer or met out of advances 
received from the foreign buyer, exporters shall be required to repatriate export proceeds to 
the extent of the local  value addition only. In such cases, ADs shall maintain the records of 
the total export value and the cost of imported inputs separately during the EXP reporting.  
 
8. Export of jewellery on consignment basis 
Prior permission of Bangladesh Bank will be required for export of jewellery on consignment 
basis or for sale in exhibitions abroad. 
 

46 
 
Part-O 
EXPORTERS’ RETENTION QUOTA (ERQ) ACCOUNT 
 
1. Retention quota limits 
(1) Retention quota for merchandise exporters: Merchandise exporters are entitled to foreign 
exchange retention quota of 30 (Thirty) percent of the repatriated FOB value for exports of high 
domestic value-added merchandise. However, for merchandise exports of goods having high 
import content, such as apparels using imported woven fab ric, POL products including 
naphtha, furnace oil and bitumen, electronic goods, etc., the retention quota is 15  (Fifteen) 
percent18  of the repatriated FOB value. 
 
(2) Retention quota for deemed exporters: Retention quota account may also be opened and 
maintained in the names of deemed exporters for supplying inputs against inland back to back 
LC denominated in foreign currency. Since foreign exchange earned from direct export is to be 
shared among direct and deemed exporters, ADs are obliged to meticulous compliance with the 
following: 
 (a) The total amount credited to the direct exporter‟s retention quota account together with 
foreign exchange paid to the deemed exporter against supply of input must not exceed the net 
repatriated FOB export value of the direct exporter; and 
 (b) Retention quota accounts can be credited up to the permissible limit in the percentage of 
proceeds realized under inland back to back LCs.  
 
(3) Retention quota for export of software, data entry/processing, and other ICT -related 
services: Exporters of software, data entry/processing, and other ICT -related services may 
retain 50 (Fifty) percent 19 of net export earnings repatriated in foreign exchange in ERQ 
accounts. 
 
(4) Retention quota for other service exporters: Service exporters other than those mentioned 
at paragraph 3 above may retain 30 (Thirty) percent of their repatriated export receipts in ERQ 
accounts against service rendered in non-physical form.  
 
(5) Retention quota for agents/trade facilitators : Resident compa nies/firms working as 
agents/trade facilitators may retain 10 (Ten) percent of the commission earning receipts from 
the export proceed in foreign currency, subject to having valid permissions from competent 
authorities, if applicable, and are active members of trade associations representing the relevant 
sectors.  
 
However, foreign exchange earnings on account of  indenting commission or agency 
commission originating from Bangladesh sources cannot be credited to such accounts. 
 
2. Eligible currency and utilization 
(1) Eligible currency : Foreign exchange out of the retention quota may be maintained in 
foreign currency  accounts with the concerned ADs in US  Dollar, Pound Sterling, Euro,  
Japanese Yen, or Chinese Yuan upon realization of the export proceeds. 
 
(2) Utilization: Balances in these accounts may be used by the exporters for bonafide 
business purposes, such as business visits abroad, participation in export fairs and seminars, 
                                                           
18FEPD-1 Circular No. 23, dated July 22, 2026 
19FEPD-1 Circular No. 22, dated July 22, 2026 

47 
 
establishment, and maintenance of offices abroad, import of raw materials, mach inery, and 
spares, repayment of authorized foreign loan, etc. without prior approval of Bangladesh Bank. 
In addition, ADs on request by the IT/Software exporting firms can remit international 
alliance/software registration fees, domain registration/hosting  fees, server maintenance fees, 
account verification/remittance test fees, etc. from the ERQ account of the applicant without 
prior approval of Bangladesh Bank. Foreign exchange from the ERQ account can be used by 
the exporter for investment abroad with pr ior approval as per Capital Account Transaction 
(Overseas Equity Investment) Rules, 2022. 
Transfer of unencumbered foreign currency between the ERQ accounts of the same exporter 
maintained out of export receipts with different ADs is permissible for bonafi de transactions 
as mentioned above. Besides, funds from the ERQ accounts of the exporters may be used for 
settlement of import liability and repayment of authorized foreign loans of their 
subsidiaries/sister concerns. However, funds from ERQ accounts of th e exporters held at 
other ADs may be used for ( i) settlement of import liability of the exporters and ( ii) 
settlement of import liability & repayment of authorized foreign loan of  exporters‟ 
subsidiaries/sister concerns under compliance with the following instructions: 
 
(a) Fund transferring AD: ADs shall be satisfied that the fund will be used only for imports 
and repayment of foreign loans of the exporters or their subsidiaries/sister concerns by other 
ADs and the fund is unencumbered. 
Transfer will be executed by BD-RTGS System through Bangladesh Bank clearing accounts of 
ADs. This instruction shall not be applicable for fund transfers and receipts in the same AD. 
 
 (b) Fund receiving AD: ADs shall retain the fund in the margin account till the settlement 
of import payments and repayment of foreign loans. 
ADs shall settle the import payments in compliance with the Import Policy Order in force, 
foreign exchange regulations, and other import related instructions. For repayment of foreign 
loans, concerned instructions mentioned about borrowing abroad by residents and the loan 
approval letter of the competent authority shall have to be followed. 
 
(3) Term deposit and interest thereon : Foreign exchange out of ERQ account may also be 
kept as interest bearing renewable term deposits with the concerned ADs in Bangladesh in US 
Dollar, Pound Sterling, Euro, Japanese Yen, or Chinese Yuan with minimum balances of USD 
2,000 (Two thousand) or its equivalent. Periods of such term deposits may be determin ed in 
accordance with normal banking practices/normal banking  considerations. Interest on such 
deposits may be allowed at rates comparable to the prevailing euro deposit rates for the relevant 
currency. 
 
 (4) Advance payment against import using ERQ accounts: ADs may effect advance payment 
not exceeding USD 50,000 (Fifty thousand)20 or its equivalent from the ERQ account against 
bonafide business purposes provided the relevant contract/proforma invoice stipulates for such 
payment subject to the following terms and conditions: 
(a) The ADs shall have to be satisfied that repayment guarantee is not obtainable from the 
supplier against the remittance to be made in advance; and 
(b) IPO in force shall have to be meticulously followed; 
                                                           
20FE Circular No. 35, dated September 23, 2025 

48 
 
(c) The ADs shall, at their own responsibility, have to arrange for repatriation of the 
remittance made in advance in case the entry of goods into the country is not effected within 
the stipulated time; 
(d) While opening back to back LC, the ADs should adjust the value of advance payment to 
ensure that the value addition requirement as stipulated in the IPO is not breached; and 
(e) Before effecting the advance payment, the ADs must obtain Form of Undertaking 
(Appendix-15) duly signed by the importer. 
 
 (5) Outward remittance without balances held in ERQ accounts: ADs may allow remittance 
facilities to exporters for bonafide service payments to beneficiary‟s bank account abroad up to 
USD 5,000 or equivalent, subject to observance of the following instructions:  
(a) The facility will be useable provided that adequate  funds are not available in ERQ 
account; 
(b) Requests from the exporter are supported by invoices specifying details of services and 
deduction & payment of applicable taxes thereon; and 
(c) The foreign exchange so remitted under this facility shall be adju sted with subsequent 
export proceeds by deduction from retainable amount in ERQ/margin account and encashment 
the same in Taka account of the exporter.  
 
3. International card 
International cards may be issued to the exporters against balances held in Exporters‟ 
Retention Quota (ERQ) and Agents‟ Retention Quota (ARQ) accounts. The arrangements for 
issuance of international cards and use thereof by exporters are described in FE Circular No. 
37, dated September 30, 2025 and subsequent circulars. 
  

49 
 
Part-P 
FOREIGN CURRENCY ACCOUNTS FOR ENTERPRISES  
OPERATING IN SPECIALIZED ZONES 
 
1. Disposal of proceeds 
The following procedures shall apply to release of foreign exchange to the enterprises against 
exports made from specialized zones: 
 
 (a) 100 (hundred) percent of repatriated export proceeds of a Type A industrial enterprises 
in specialized zones may be retained in foreign currency accounts in the name of the 
enterprises with ADs  or OBUs in Bangladesh. Balances in foreign currency accounts may 
freely be used to meet all foreign payment obligations including import payment obligations 
of the enterprise and payment obligations in foreign exchange to respective zone authorities. 
Balances from foreign currency accounts will also be freely  encashable for local 
disbursements or for crediting Taka account maintained with ADs for meeting Taka payment 
obligations like wages, rents, rates, taxes etc. Taka accounts maintained with ADs by Type  A 
enterprises in specialized zones may be credited only with encashments of funds from foreign 
currency accounts or of other inward remittances from abroad. However, receipts from Taka 
sales of factory refuses and of unusable portion of raw materials of T ype A enterprise may be 
credited to Taka accounts provided the permission letter of respective zone authorities for the 
sale and evidence of payment of duties/taxes on sale proceeds are produced to the AD. In 
addition, ADs may credit legitimate receipts against short weight claim, quality claim, freight 
charge of sample, insurance claims, reimbursement of expenses for samples from buyers or 
parents etc. received in foreign currency or local currency accounts of the enterprises. ADs 
shall observe due diligen ce in compliance with KYC, AML/CFT standards while crediting 
accounts under the above mentioned grounds based on documentary evidences. Balances in 
these Taka accounts cannot be converted to foreign exchange and may only be used for 
meeting local expenses.  
 
(b) Balances held in foreign currency accounts of Type A industrial enterprises of 
specialized zone may be used for purchase of shares in zone areas or outside zone areas in 
Bangladesh. ADs receiving funds on account of share purchase shall observe all instructions 
including issuance of certificate and reporting routine contained in chapter 9 of GFET -2018 
and its subsequent circulars. As such, dividend income out of such investment, and  
disinvestment proceeds (if any) approved by Bangladesh Bank, where required, may also be 
credited to their foreign currency accounts, subject to regulatory compliances including taxes 
regulations.  
 
(c) Up to 80 (E ighty) percent of the repatriated export proceeds of Type B and Type C 
enterprises other than those in the garments sector may be retained in foreign currency 
accounts maintained in the names of the enterprises with their ADs; for a Type B or Type C 
enterprise in the garments sector, up to  75 (S eventy five) percent of the repatriated export 
proceeds may be credited to foreign currency accounts maintained in the name o f the 
enterprises with ADs. The remainder of the export proceeds should be encashed to taka at the 
prevailing exchange rate. Besides, Taka accounts of Type B and Type C industrial enterprises 
may also be credited with authorized payment received in Taka in  accordance with same 

50 
 
instructions as stipulated in paragraph 1(a) of this part . All foreign payment obligations of 
Type B and Type C enterprises including import payment and repayments of foreign loans 
may be met out of the balances in  their foreign curre ncy accounts; payment obligations in 
foreign exchange of a type B enterprise to respective zone authority may also be settled from 
balances in its foreign currency account. Balances in foreign currency accounts of Type B 
and Type C enterprises are freely encashable to Taka for local disbursements.  
 
(d) Equity from foreign shareholders of Type A and B enterprises and authorized loan 
received in foreign currency by Type A, B and C enterprises may be credited in foreign 
currency accounts of enterprises of specialized zones. Issuance of shares to foreign 
shareholders is subject to compliance with the provisions of chapter 9 of GFET -2018 and its 
subsequent circulars.  
 
(e) To facilitate business travel abroad by the officials of enterprises located in specialized 
zones, balances of such accounts may be used through international debit/pre -paid cards also 
as per relevant provision  of FE Circular No. 37, dated September 30, 2025  and subsequent 
circulars. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

51 
 
Part-Q 
FOREIGN CURRENCY-TAKA SWAP21 FACILITY AGAINST EXPORTERS’ FUND 
IN FOREIGN CURRENCY HELD IN 30-DAY POOL AND RETENTION QUOTA 
ACCOUNTS FOR MEETING WORKING CAPITAL NEEDS 
 
1. In consideration of prevailing trends in foreign exchange earnings, exporters‟ liquidity 
requirements, and the need to minimize exchange losses from premature conversion of export 
proceeds, Bangladesh Bank has reviewed the existing framework for retention and utilization 
of foreign currency funds held in respective pools (ref. paragraphs 55(2) and 56(1) of FE 
Circular No. 33, dated August 14, 2025  and subsequent circulars) and  Exporters‟ Retention 
Quota (ERQ) accounts (ref. Part-O of this circular).  
 
2. To facilitate exporters‟ short-term liquidity requirement in Taka while maintaining foreign 
currency holdings, ADs may enter foreign currency -Taka swap arrangements with export ers 
against balances held in their respective 30 -day pools and ERQ accounts. For the purpose of 
this circular, such a swap is defined as a spot purchase of foreign currency against Taka with 
a simultaneous forward sale at an agreed rate and maturity, using underlying foreign currency 
sources owned by exporters.  
 
3. The tenor of a swap must not exceed the expected utilization period for ERQ balances, and 
is limited to a maximum of 30 days for 30 -day pools. The facility against such swap is to be 
settled on maturity.  
 
4. The applicable swap points will be based on market-reflective and/or cost-reflective interest 
rate/profit differential between two currencies.  
 
5. Swaps shall be executed only against available and unencumbered balances held in foreign 
currency owned by exporters. ADs shall maintain adequate risk management, credit, and 
liquidity control systems, along with internal approval and audit mechanisms. Ex porters shall 
provide written declarations confirming their understanding of the contractual nature of the 
swap and associated rate implications. This swap transaction shall not be treated as 
loan/financing facility extended to customers by ADs.  
 
6. Taka funds obtained by exporters under the swap arrangement shall be used solely for 
bonafide working capital purposes related to export operations; no speculative positions shall 
be undertaken under this arrangement.  
 
7. All transactions need to be properly d ocumented, recorded in terms with international best 
practices, and reported to Bangladesh Bank as per routine procedures.  
8. In compliance with the above instructions, ADs may also enter into FC -Taka swap 22 
arrangements with exporters operating in Special ized Zones —including Export Processing 
Zones (EPZ), Private Export Processing Zones (PEPZ), Economic Zones (EZ), and High -
Tech Parks (HTP)—against unencumbered balances held in  their respective foreign currency 
accounts maintained as per Part-P of this circular. 
                                                           
21FE Circular No. 41, dated November 03, 2025 
22FEPD-1 Circular Letter No. 10, dated July 13, 2026 

 
 
 
FEPD-1 Circular No.26, dated July 30, 2026 
 
APPENDIX 
 
Part-A: GENERAL GUIDELINES  
Appendix-1 EXP Form 
Appendix-2 Export Register 
Appendix-3 Certificate of AD for carrier company 
Appendix-4 Certificate of AD for carrier company 
Appendix-5 Information  relating to export orders with foreign agent 
commission 
Appendix-6 Advance receipt voucher 
Appendix-7 Application for approving remittance of discount on account of 
readymade garments, leather goods, jute goods, ships, frozen 
shrimp and fish products 
Appendix-8 PRC Direct Export 
Appendix-9 PRC Deemed Export 
Part-D: EXPORT UNDER OPEN ACCOUNT CREDIT TERMS 
Appendix-10 Certificate of AD for carrier company 
Part-H: EXPORT OF SERVICES INCLUDING INFORMATION TECHNOLOGY 
ENABLED SERVICES 
Appendix-11 Form-C 
Appendix-12 Form-C (ICT) 
Part-I: EXPORT PROCEED REALIZATION SERVICES 
Appendix-13 Certificate by AD against IT related services  
Part-M: RE-EXPORT, ENTRE-POT, MERCHANTING TRADE AND COUNTER TRADE 
Appendix-14 Form TM 
Part-O: EXPORTERS‟ RETENTION QUOTA (ERQ) ACCOUNT 
Appendix-15 Form of Undertaking 
 
  

 
 
 
Paragraph 6, Part-A                                                Appendix-1 
EXP Form 
(Submitted electronically by exporters) 
 
Statutory declaration to be furnished by exporters under the Foreign Exchange Regulation Act, 1947 
before shipment of goods. An incorrect declaration constitutes offence under the said Act. 
EXP/Electronic Declaration No. and date_______________________________________________________ 
Name and address of Authorized Dealer _______________________________________________________ 
 
Details of export 
Sl. 
No. 
Items Particulars (to be filled 
in by Exporter) 
Code No. (to be filled in by 
Authorized Dealer) 
 
1. Commodity to be exported       
2. Country of destination       
3. Port of destination       
4. Quantity Unit (bales/tons/lbs. etc.)       
Volume (Weight/number etc.)       
5. Value 
Currency       
Incoterm Used       
Invoice Value  FOB Insurance Freight 
   
CMT Value (if applicable)       
6. Terms of sale (Firm Contract/LC or Consignment 
sale) 
      
7. Name & address of importer/consignee       
8. Name of carrying vessel       
9. Bill of Lading/Railway Receipt/Airway 
Bill/Truck Receipt/Post Parcel Receipt 
No.: 
Date: 
     
10. Port of shipment/Post Office of dispatch       
11. Land Custom Post       
12. Shipment date       
13. Name of the Exporter (in block letter) with 
address 
     
 
 
14. CCI&E‟s Registration Number of the exporter 
and date 
      
15. Sector (Public or Private) under which the 
exporter falls 
      
Declaration and undertaking by exporter 
I/We, the undersigned hereby declare that I/we am/are the sellers/consignors of the goods described above in 
respect of which this electronic declaration is made out through Bangladesh Bank online reporting portal and that 
the particulars given in this electronic form are true and that the invoice value declared in the form in case of 
firm contract is full value as contracted with the buyers; and in case of consignment sale, is a fair value of the 
goods which are being shipped on consignment sale.  
 
I/We do hereby undertake to repatriate full proceeds of the export within the period specified by  Bangladesh 
Bank in terms of FER Act. 
 
Date_________________ Authorized Signature and 
Stamp of Exporter 
Certificate of Authorized Dealer 
Certified that the above exporter(s) is/are known to us, that he/they is/are bonafide  business person(s) in 
Bangladesh, and that he/they has/have made arrangements with us for the realization of the export proceeds of 
the goods shipped from Bangladesh as per their electronic declaration within the stipulated period and that we 
are satisfied  with the said arrangements. We have also satisfied ourselves with the bonafides of the 
importers/consignees abroad and their credentials etc.  
 
*We undertake that for export shipments on consignment sale, we shall obtain from the exporter(s) and furnish to 
the Bangladesh Bank a fully documented account sale certified by the consignees/Chamber of Commerce of the 
country of import.  
 
*We further undertake that in the event of non-realization or short realization of export proceeds against shipment 
within the  stipulated period, we shall obtain from the exporter(s) and furnish to the Bangladesh Bank full 
explanation as to the circumstances resulting in non-realization/short realization.  
 
*(Strike out the portion not applicable and authenticate with initials).  
 
Date_________________ Stamp and Signature of 
Authorized Dealer 

 
 
 
 
 
 
Paragraph 11, Part-A                                                Appendix-2 
 
EXPORT REGISTER 
Sl. 
No. 
Number 
of EXP 
Form 
Name and 
address of the 
exporter 
Commodity Amount 
declared on 
EXP Form 
Date of 
certification 
Initials of the 
certifying 
officials 
Date of 
shipment 
Bill 
No. 
1 2 3 4 5 6 7 8 9 
         
 
Date of negotiation 
or sending abroad 
for collection 
of export proceeds 
Date of reporting 
of shipping 
information to 
BB online 
Date of 
realization 
Amount 
realized in 
foreign 
currency 
Taka amount paid 
to the exporter and 
rate of exchange 
applied 
Date of reporting 
of realization  to 
BB online 
10 11 12 13 14 15 
      
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
Paragraph 14(d), Part-A Appendix-3 
 
CERTIFICATE OF AUTHORIZED DEALER TO BE PRODUCED  
BY THE EXPORTER TO CARRIER COMPANY 
 
 
CERTIFIED THAT shipment against EXP Form No.…................................................................ 
dated......................................... by M/s. ........................................................................................... 
(Name and address of the exporter) 
to M/s............................................................................................................................................... 
(Name and address of the importer or designated party as per LC/valid contract) 
is being made against full payment received in advance by us and there is no objection for bill of 
lading, airway bill, railway receipt, and other documents of title to cargo being drawn to the order 
of............................... 
 
 
 
 
Signature of the Authorized Official: 
Full Name:  
Designation: 
Phone No. 
 
 
Seal:                                           Date: 
 
 
 
 
  

 
 
 
 
 
Paragraph 15, Part-A Appendix-4   
 
 
 
 (To be issued on the letter head of Authorized Dealer) 
 
 
CERTIFICATE OF AUTHORIZED DEALER TO BE PRODUCED  
BY THE EXPORTER TO CARRIER COMPANY 
 
 
CERTIFIED THAT shipment against EXP Form No.….......................................................................... 
dated......................................... by M/s. .................................................................................................... 
(Name and address of the exporter) 
To M/s........................................................................................................................................................ 
(Name and address of the importer or designated party as per LC/valid contract) 
 
is being made under satisfactory arrangement for repatriation of export proceeds. There is no 
objection to the Bill of Lading, Airway Bill, Railway Receipt, or other documents of title to 
the cargo, not exceeding USD 1 ,00,000 or equivalent per shipment , being drawn to the 
order of................................................................... . 
 
 
 
Signature of the Authorized Official: 
Full Name:  
Designation: 
Phone No.: 
 
 
Seal:                                           Date: 
 
 
  

 
 
 
 
Paragraph 20(1), Part-A Appendix-5 
 
 
INFORMATION RELATING TO EXPORT ORDERS WITH FOREIGN AGENT 
COMMISSION EXCEEDING PERMISSIBLE LIMIT FOR WHICH APPROVAL IS REQUIRED 
A. Statement of export: 
 
SL 
No 
 
Name of 
Importer 
 Export 
LC/ 
Contract 
No. with 
date 
 
Value 
in FC 
 
Last Date 
of 
Shipment 
 
Expiry 
Date 
 
Inco 
Terms 
 
Agent 
Commission 
(in %) 
Terms of 
Payment 
 
Usance 
Discount 
Rate* 
 
Remarks 
Sight Usance 
(period) 
1 2 3 4 5 6 7 8 9 10 11 12 
            
 
*in case of export bill to be discounted at sight 
 
B. Calculation of value addition (Net FOB export value less input contents, both foreign and local) 
for each export LC/contract as per above A. 
(Please use separate sheet if necessary) 
 
C. Export performance of the exporter for the last 3 years: 
Year Bill value 
(in FC) 
Repatriated value 
(in FC) 
Rate of realization 
(in %) 
Agent commission 
settlement (in FC) 
Outstanding/Overdue 
(in FC) 
1 2 3 4 5 6 
      
 
Declaration of Authorised Dealer 
We do hereby declare  that the above statements depict the true information in accordance with documentary 
records/evidences. We shall be held responsible for wrong information, if any. We shall make available the 
documents as and when required by Bangladesh Bank/its inspectio n team. Necessary arrangements are in place 
to repatriate the export proceeds within the stipulated time. 
Signature: ………………………………….. Signature: ………………………………….. 
Name: ……………………………………… Name: ……………………………………… 
Designation: Head of export Designation: Head of branch/trade operation 
PA Number: ………………………………. PA Number: ……………………………….. 
Date:……………………………………….. Date: ……………………………………….. 
(To be typed in AD‟s letter head)   
OFFICIAL 
STAMP 

 
 
 
    
Paragraph 22, Part-A Appendix-6 
  
ADVANCE RECEIPT VOUCHER 
 
 Name And Address Of Authorised Dealer 
 
Sl. 
No. 
Items Particulars Code Number 
 
 
 
1. EXP Form Number (if the Form is 
available) 
 
 
 
2. 
 
Name & address of the exporter 
 
(in block letters) 
 
 
3. CCI&E‟s Registration No and date 
 
 
 
4. 
 
Sector (Public or Private) under  
which exporter falls 
 
  
5. Name and address of foreign buyer 
 
 
 
6. 
 
Commodity to be exported 
 
         
7. Country of destination 
 
 
     
8. Amount 
 
 received 
Currency in which 
received 
    
Amount 
 
 
9. Date of receipt of the amount 
 
 
10. Reporting period 
 
  
 
 
      Date : …………………             Office seal                                   Signature 
                                                                                      Stamp with name, designation & phone no 
 
 
    
 
ORIGINAL 

 
 
 
Paragraph 27, Part-A Appendix-7 
 
APPLICATION FOR APPROVING REMITTANCE OF DISCOUNT 
ON ACCOUNT OF READYMADE GARMENTS, LEATHER GOODS, JUTE GOODS, 
SHIPS, FROZEN SHRIMP AND FISH PRODUCTS   
Part -1 
 
(i)  Name and address of the exporter: ........................................................................................................ 
 
(ii) Particulars of discount allowed to the same exporter in last 3 years: ..................................................  
 Export LC/ Export Amount/ Amount of Discount  
Sl. No. contract No Bill Value Value of Discount Allowing Rate of 
 & Value  Repatriation Allowed Authority Discount 
   and Date    
       
 
3. Export performance of the same exporter in last 3 years: 
 
Sl. No. 
Export LC/ Export Bill EXP No Invoice No Realized Amount of 
Contract No No. & Date & Date & Value Value Discount 
 & Value      
       
 
Part -2: Required information to be submitted with supporting documents/necessary papers: 
(i) Reason(s) for claiming discount by foreign buyer(s) and particulars of correspondences with  the 
buyer(s); 
(ii) Number, date, and value of Back to Back LC(s); 
(iii) Date of receiving of imported goods, bill no, bill date, and bill value; 
(iv) Amount of import liability and date of payment; 
(v) No. of master export LC & date, value and date of shipment, etc. 
(vi) Quantity of exported readymade garments, leather goods, jute goods, ships, frozen shrimp and fish 
products and invoice value; 
(vii) New sales price if goods are proposed to be sold to a new buyer; 
(viii) Amount and rate of discount claimed on consignment/bill basis; and 
(ix) Name, address, and particulars of license/registration of the Buying House and Freight Forwarder. 

 
 
 
 
Paragraph 29(a), Part-A Appendix-8 
  
 
EXPORT PROCEEDS REALISATION CERTIFICATE AGAINST DIRECT EXPORTS 
Name and address of the Exporter:………..……….. ERC No………….PRC Issued For……….….PRC No…….  Date……….. 
 
 
EXP 
No. 
 
Description 
of 
Commodity 
Exported 
 
B/L No. & 
Date and 
Country of 
Destination 
 
Invoice 
value 
No. & 
Date 
Amount Realized  
 
Date of 
Realization 
 
1.Freight paid 
 2.Commission 
 3.Insurance 
Net FOB value Reference of the 
Schedule/Statement 
in which 
Transaction has 
been or will be 
reported to 
Bangladesh Bank 
 
 
Foreign 
Currency 
 
Bangladesh 
Taka 
 
Foreign 
Currency 
 
Bangladesh 
Taka 
1 2 3 4 5 6 7 8 9 10 11 
           
 
 
 
 
  
 
  
We hereby certify that the particulars mentioned above are correct. We also undertake that in case any 
discrepancy in regard to the transactions mentioned in this certificate is detected, we shall remain responsible 
for the same and shall abide by any decision taken by the Bangladesh Bank in this regard. We further undertake 
that if any insurance and other export claims relating to the export indicated in the Proceed Realization 
Certificate arises, we shall abide by any decision of the Bangladesh Bank for deduction of appropriate amount 
from any future Proceed Realization Certificate. We will send the „Verification Copy‟ of the PRC to 
Bangladesh Bank for post facto checking in the month of………………………….. 
 
Signature of the head of the branch:……………….. 
Full Name: ………………………………………….. 
Designation: ………………………………………… 
PA No.: ……………………………………………... 
Phone No.: …………………………………………... 
 
 
Seal: ……………………  Date: ……………………. 
 
Signature of issuing officer of the branch: …………. 
Full Name: ………………………………………….. 
Designation:…………………………………………. 
PA No.: ……………………………………………... 
Phone No.:…………………………………………... 
 
 
Seal: ……………………  Date: ……………………. 

 
 
 
 
EXPORT PROCEEDS REALISATION CERTIFICATE AGAINST DEEMED EXPORTS 
Name and address of the Exporter:………..……….. ERC No………….PRC Issued For……….….PRC No…….  Date……….. 
Back To Back LC 
Local LC/Contract 
Ref. in regard to 
which PRC is being 
Issued 
 
Bill Reference 
 
Concerned Master 
Export LC/Contract 
Reference  
 
Commodity 
 
Realized Bill Value 
 
Date of 
Realisation 
Reporting 
Reference to 
Bangladesh 
Bank 
 
 
No. 
 
Date 
 
Value 
(FC) 
 
No. 
 
Date 
 
Value 
(FC) 
 
No. 
 
Date 
 
Value  
(FC) 
 Currency Amount   
1 2 3 4 5 6 7 8 9 10 11 12 13 14 
 
 
Paragraph 29(a), Part-A Appendix-9 
We hereby certify that the particulars mentioned above are correct. We also undertake that in case any 
discrepancy in regard to the transactions mentioned in this certificate is detected, we shall remain responsible 
for the same and shall abide by any decision taken by the Bangladesh Bank in this regard. We further undertake 
that if any insurance and other export claims relating to the export indicated in the Proceed Realization 
Certificate arises, we shall abide by any decision of the Bangladesh Bank for  deduction of appropriate amount 
from any future Proceed Realization Certificate. We will send the „Verification Copy‟ of the PRC to 
Bangladesh Bank for post facto checking in the month of………………………….. 
 
Signature of the head of the branch:……………….. 
Full Name: ………………………………………….. 
Designation: ………………………………………… 
PA No.: ……………………………………………... 
Phone No.: …………………………………………... 
 
 
Seal: ……………………  Date: ……………………. 
 
Signature of issuing officer: ………………………... 
Full Name: ………………………………………….. 
Designation:………………………………………… 
PA No.: ……………………………………………... 
Phone No.:…………………………………………... 
 
 
Seal: ……………………  Date: ……………………. 

 
 
 
 
 
       
Paragraph 5, Part-D 
Paragraph 6(b), Part-J 
Appendix-10 
 
 
 
 
(To be issued on the letter head of Authorized Dealer) 
  
CERTIFICATE OF AUTHORIZED DEALER TO BE PRODUCED  
BY THE EXPORTER TO CARRIER COMPANY 
 
 
CERTIFIED THAT shipment against EXP Form No.…................................................................ 
dated......................................... by M/s. ........................................................................................... 
                                                                        (Name and address of the exporter) 
to M/s............................................................................................................................................... 
(Name and address of the importer or their instruction) 
 
is being made against financing through payment undertaking/payment risk coverage under factoring 
arrangement and there is no objection to R ailway Receipt, Bill of Lading, A irway Bill and other 
documents of title to cargo being drawn to the order of............................... 
 
 
 
 
Signature of the Authorized Official: 
Full Name:  
Designation: 
PA No.: 
Phone No.: 
 
 
Seal:                                           Date: 
 

 
 
 
       
Paragraph 2(C), Part-H Appendix-11 
 
FORM-C 
 
DECLARATION FOR REMITTANCE RECEIVED FROM FOREIGN  
COUNTRY OF AMOUNT EXCEEDING USD 20,000 OR EQUIVALENT 
 
I/We do hereby declare that I/we have received remittance of  
 
(Amount and Currency in figures and in words) 
 
          remitted or 
 
to be remitted by    on account of  
  
(name and address of remitting bank) 
 
    for the purpose of    
name and address of remitter)      (purpose of remittance) 
          
       (Name of Applicant) 
      Nationality          
Date ..................... Address   
         Signature and Stamp of the applicant 
 
From-C : Inward Remittance exceeding USD 20,000 (Twenty thousand) or equivalent. 
 
Month 
Country of Ordering  
Purpose 
  Amount in 
 
Customers 
   
(State Currency)        
               
               
 
Coded by   
Checked by  
 
Purpose of remittance  
We hereby certify that we are satisfied as to the identity of the applicant and that we have seen 
documentary evidence which satisfies us as to the bonafides of the declaration made on this form. 
 
 
 
Date ........................... 
 
Signature and Stamp of the 
Authorised Dealer 
 
 
 
 
 
Contd, P/2

 
 
 
 
 
Page-2 
 
 
(Space for use by the Bangladesh Bank) 
 
 
 
 
 
 
 
 
BANGLADESH BANK 
Foreign Exchange Policy Department-1 
 
 
Date: …………………………                                                  Assistant Director 
 
 
Note: Full details must be given for all remittances which are of capital nature. In the case of 
amounts for investment in Bangladesh in shares or business, the reasons why the investment is 
required must be clearly indicated. In the case of the remittance of t he sale proceeds of securities 
the name of the true owner of the securities must be given and also the approximate date of 
purchase. 
 
 
 
Inward ID 
 AD Code Ref. Year 
 
 
Outward Reference 
 AD Code Ref. Year 
 

 
 
 
 
 
     
Paragraph 2(c), Part-H Appendix-12 
 
 
FORM-C (ICT) 
 
DECLARATION FOR INWARD REMITTANCE ON ACCOUNT OF ICT  
RELATED SERVICES OF AMOUNT EXCEEDING USD 20,000 OR EQUIVALENT 
 
I/We do hereby declare that I/we have received remittance of ………………… (amount) which is a fair 
value against ICT related services described below in respect of which this declaration is made out and 
that the particulars given below are true: 
 
a) Remitter‟s name and address: 
b) Remitting bank and address: 
c) Reference No (contract/invoice/electronic communication etc.) 
d) Purpose (please tick): 
 
 Information Technology Enabled Services (IT Enabled Services) and Business Process 
 Outsourcing (BPO) services-code 2410 
 Computer and Information Technology consultancy and management services-code 2411 
 Export of computer software including turn-key basis (customized)-code 2412 
 Export of computer software including turn-key basis (non-customized) - code 2413 
 Installation services concerning hardware and software maintenance and repairs of computers and 
peripheral equipment services - code 2414 
 ………………………… (please specify) 
 
Note: Please see the “Code lists for Reporting of External Sector transactions by the Authorised dealers” 
for explanatory notes of above purposes 
 
Signature with name of applicant: ………………………………………………………………………….. 
Address:……………………………………………………………………………………………………... 
Date:…………………………………………………………………………………………………………. 
 
(for AD‟s use only) 
Month Country of ordering 
customer 
Purpose 
 
Amount in 
(state currency) 
               
 
 
 
 
 
 
 
Inward ID 
 AD Code Ref. Year 
 
Outward Reference 
 AD Code Ref. Year 
 
Coded by: …………………………………. 
 
Checked by: ………………………………. 
 
Purpose of remittance: ……………………. 
 
 
Signature and stamp of Authorized Dealer: 
Date: 

 
 
 
 
      
 
Paragraph 6(5), Part-I Appendix-13 
 
Enclosure A 
Serial No.................                                                                                                      Date of issue: ..................... 
 
CERTIFICATE OF AUTHORIZED DEALER 
 
This is to certify that we have received inward remittance in the settlement accounts maintained 
by……………………………………….(Name and address of MFSP). Of the inward remittance, 
transactional summary in favor of ……………………….(beneficiary‟s name and address) 
having wallet/MFS Account No…………….is as follows: 
(a) Remittance service 
      Provider……………………………… 
(b) Address ………………………… 
(c) Amount in FC………………………... (d) Date of credit in settlement 
account……………………………… 
(e) Equivalent Taka……………………… (f) Delivery/rendering of………………… 
   (name of service) 
(g) Reporting statement/schedule to BB  
with month…………………………….. 
(h) Reference of online reporting to 
BB…………………………………… 
 
 
 
Date of issue: 
 
Name of Bank                                                                             QR Code 
 

 
 
 
 
 
Paragraph 1(c), Part-M Appendix-14 
 
 
FORM ‘TM’ 
Travel and Miscellaneous 
Purposes (other than import) 
 
APPLICATION FOR PERMISSION UNDER FOREIGN EXCHANGE 
REGULATION ACT, 1947 TO PURCHASE FOREIGN EXCHANGE 
FOR THE PURPOSE SPECIFIED BELOW 
To 
......................................................... 
........................................................ 
......................................................... 
(Name & address of the Bank to which application is made) 
I/We wish to purchase/remit.........................................................................................for the under 
                                                                               (Amount in figures and words stating currency) 
 
mentioned purpose:- 
I/We hereby declare that the statements made by me/us on this form are true and that I/we have 
not already obtained exchange nor have I/we made any other application for the purpose. 
* A. For Travel Purposes: 
I /We desire to travel to.............................................for the purpose of.......................................... 
The journey will be undertaken by................................................................................................... 
(Name of the Air/Shipping Company) 
 
My/Our Passport Nos, date & place of issue are given below:- 
(a) 
(b) 
(c) 
*B. For miscellaneous purposes other than travel and import: 
(a) Reason for payment..................................................................................................................... 
(b) Name & address of beneficiary................................................................................................... 
(c) Country of beneficiary............................................................................................................... 
 
 
 
………………………………. 
Signature, Name and Address 
of the Applicant 
Contd...P/2 
 
TM ID 
 AD Code Ref. Year 
 
 
Inward Reference 
 AD Code Ref. Year 
 
 

 
 
 
 
Page-2 
Declaration to be signed by the traveller/remitter 
(a) That I/we recognise that in the event of any misrepresentation or suppression of any material fact, I/we 
shall be liable to action under the Foreign Exchange Regulation Act, 1947. 
(b) That the foreign exchange released to  me/us shall be used for expenses incurred by means in foreign 
country/countries for 
*(i) my/our living and travelling expenses for business purposes. 
*(ii) my/our enroute expenses for travel abroad. 
*(iii) my/our living expenses and medical treatment. 
(c)  I/We am/are aware that exchange issued to me/us under this form for travel purposes may only  be taken out 
by me/us on my/our departure from Bangladesh and may not be sent out by post or  through the medium of any 
other person or by any other means. 
(d) Th at if the travel has not been undertaken for the purpose mentioned above, or if any unspent  foreign 
exchange remaining in my/our possession or at my/our disposal or which could not be  utilised for the purpose 
for which it was granted, will be sold by me/us  to an Authorised Dealer in  foreign exchange in Bangladesh 
immediately on my/our return to Bangladesh. 
*(e) I/We declare that the payment mentioned against „b‟ above is due to be made by me/us for which  
documentary evidence is enclosed and assume full resp onsibility for complying with the  provisions of the 
Foreign Exchange Regulation Act, 1947 and rules, orders and directives issued thereunder. 
 
 
Signature of the applicant 
 
 
 (Certificate by Authorised Dealer)  
 
*(a)  We have issued Notes & Coins…… ..............................T/C……...........................L/C............................... 
Total.........................as per Bangladesh Bank approval  dated……….................................................... and 
endorsed the amount released in the traveller‟s passport after examining the ticket covering the passage. 
*(b)  We have effected remittance of .................................................................................................................... 
 
                                                                                                 (State amount) 
 
in terms of Para ..................Chapter....................of GFET /Bangladesh Bank‟s 
approval No. .................... dated ........................by.............................on................................................(TT/MT/Draft) 
 
                                                                                                                                                                     Contd...P/3
Certificate of approval of the Bangladesh Bank (if required). 
[Valid for 45 (Forty five) days from the date of approval] 
 
 
 
 
 
 
Date of approval.                                                                 Seal & Signature of the Bangladesh Bank Official 
 

 
 
 
 
Page-3 
 
Cage to be completed by Authorised Dealer indicating Code No. as per Code list circulated by the 
Bangladesh Bank 
 
 
 
 
Month Country of 
beneficiary 
Purpose Category Currency Amount in foreign 
currency 
               
 
 
 
Signature and Stamp of the 
Authorised Dealer 
 
 
I/ we hereby certify having received the exchange issued to me/us as above. 
 
 
 
 
 
 
Signature(s) of the Applicant(s) 
 
* Strike out items not applicable 
 
 
 
 

 
Paragraph 2(4)(e), Part-O Appendix-15 
 
BANGLADESH BANK  
FOREIGN EXCHANGE POLICY DEPARTMENT-1 
 
FORM OF UNDERTAKING 
 
(To be furnished by the importer for making advance remittances for permissible imports of goods and services). 
 
In consideration of Bangladesh Bank permitting me/us an advance remittance of................................... 
to.......................................................... I/we hereby undertake that the amount  so remitted by me/us 
will be used solely for the purpose of payment for the goods/services described below to be imported 
into Bangladesh from ....................................in accordance with the regulations in force regarding 
such imports. I/We dec lare that the goods/services will be imported by me/us on or 
about............................. and I/we undertake to produce to the Bangladesh Bank documentary evidence 
in respect of goods/services so imported including the authenticated copy of the Customs Bill of Entry 
for goods and supplier‟s invoice in original. I/We further declare that the amount paid by me/us in 
advance will be deducted from the invoice value of the goods (CFR)/services imported and that the 
deduction will be shown on the invoice. 
 
I/We do undertake to be held fully responsible under FER Act, 1947 if I/We fail to produce to the 
Bangladesh Bank documentary evidence in respect of service or the Exchange Control Copy of the 
Customs Bill of Entry in respect of goods in original within th e stipulated time or bring back the 
remitted foreign currency into Bangladesh as the case may be. 
 
Name and address 
of the supplier 
Invoice Value Description Country of origin Particulars of  
LC Authorisa tion 
form 
Goods Services Goods Services Goods Services Goods Services 
        
 
 
 
 
 
 
 
 
 
                                                                                                         Signature and Stamp of the Importer 
 
Name of the Importer  
 
Address  
 
Registration Number with CCI & E   
 
 
Date 
Signature and Stamp of the   
Authorised Dealer 
 

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