Professional Documents
Culture Documents
Bangladesh
Regulations-Monitoring-Compliances
Md Mokaddem Ahamad
Deputy Director
Foreign Exchange Operation Department
Bangladesh Bank
Scopes of Discussion
Introduction to Foreign Exchange & International
Trade
Role of Bangladesh Bank in Export & Import
Introduction to FX Monitoring System
Regulations related to Import and Export
General Import & Export Procedure in Bangladesh
Monitoring through Online Foreign Exchange
Transaction Monitoring System
Compliance issues regarding Import and Export
Import and Export in Bangladesh -2-
Foreign Exchange vs
International Trade
International Trade
Exchange of goods and services across
international borders or territories.
Foreign Exchange
Exchange/Conversion of One Currency to another
Integral Part of International Trade
Exporter Importer
Documentary Credit
International Import Finance
Trade Trade Finance
Export Finance
Forex Market
Foreign Exchange Rate Mechanism
Exchange
Import and Export in Bangladesh -5-
Convertibility
Role of Bangladesh Bank
Established under Bangladesh Bank Order, 1972
Article 7A
(b) to formulate and implement intervention policies in the
foreign exchange market;
(d) to hold and manage the official foreign reserves of
Bangladesh;
Article 63
Establish and maintain Export Credit Fund(EDF) to
facilitate export and import through medium & long term
loan under re-finance scheme
Import and Export in Bangladesh -6-
Role of Bangladesh Bank
(Contd..)
Import Policy Order 2015-18
Several articles e.g. LCA Form, Incoterms, Payment
methods etc. are on Bangladesh Bank’s discretion.
Export Policy 2015-18
Several articles e.g export regulations, Cash Incentives,
Value addition etc. are related to Bangladesh Bank.
Export Import
Outward
Remittances
Inward Money
Remittances Changers
International
Money Cards
Import and Export in Bangladesh -9-
Foreign Exchange Transaction
Monitoring Dashboard
1) IRC
Importer Exporter
8) Shipping
LCAF 3) Application for opening LC Documents
4) Allocation of FC 6) Notification of
11) Notification of Goods LC 7) Shipment of
10) Release of Release Goods
Documents
IMP From Foreign
Local Bank
Bank
Bill of 9) Making Payments
5) Opening &
Entry Sending LC
11) Release of Goods
LC Port/
Customs
Import and Export in Bangladesh -15-
Regulations for Import
Local
Foreign Exchange Regulation Act, 1947 (FERA)
Import and Export Control Act, 1950
Customs Act, 1969
Importers, Exporters & Indentors (Registration) order, 1981
Guidelines for Foreign Exchange Transactions, 2009 (GFET)
Import Policy Order, 2015-18 (IPO)
FE Circulars and Circular Letters by Bangladesh Bank
Statutory Rules and Order (SRO) by National Board of
Revenue
Import and Export in Bangladesh -16-
Regulations for Import
(Contd..)
International
General Agreement on Tariffs and Trade (GATT)
Uniform Customs & Practice for Documentary Credits (UCP-
600)
Uniform Rules for Bank-to-Bank Reimbursements under
Documentary Credits (URR- 725)
Uniform Rules for Collections (URC-522)
Incoterms 2010