Bangladesh Bank has extended the retention period to 30 days for repatriating export income in foreign currency, with the view to make transactions more flexible.
Foreign Exchange Policy Department of Bangladesh Bank issued a notification in this regard on Tuesday (September 6) and sent to Authorised Dealer Banks for immediate effect.
The notification stated that to make trade transactions flexible, it has been decided to extend the retention time to 30 days, from 15, for utilisation of the fund to settle import liabilities of relevant exporters.
It means henceforth the exporting individual or organisation will be able to hold dollars for up to 30 days, with which back-to-back letters of credit (LCs), other EDF and import liabilities can be settled. At the same time the saved income can be transferred to another bank.
