In a move to help the entrepreneurs withstand the fallouts of the coronavirus pandemic, Bangladesh’s central bank, Bangladesh Bank (BB), on 7 June (Monday) further extended the deadline for export proceeds repatriation even as it maintained the existing policy relaxation would remain effective till 31 December 2021 instead of 30 June 2021.
Media reports maintained this while adding the central bank’s foreign exchange policy department issued a circular in this regard which underlined that till 31 December, the time for repatriation of export proceeds, instead of the earlier 120 days, would remain extendable to 210 days, from the date of shipment.
The BB circular further, reportedly, added that back-to-back letters of credit opened under buyer’s or supplier’s credit will be extendable up to 180 days more within the permissible rate of interest even as loans from the Export Development Fund would remain extendable to additional 180 days instead of 90 days.
