BB eases forex regulations for companies in EPZs

Dhaka,  Thu,  21 September 2017
Published : 16 Jul 2017, 18:57:39
printer

BB eases forex regulations for companies in EPZs

BB eases forex regulations for companies in EPZs
Bangladesh Bank (BB) has relaxed foreign exchange regulations for the companies in Export Processing Zones (EPZs) to bring uniformity in regulations between enterprises of EPZs and Economic Zones (EZs). 

"Equity from foreign shareholders and authorised loan received in foreign currency from external sources may be credited in Foreign Currency (FC) accounts of 'Type A' and 'Type B' enterprises of EPZs," reports BSS citing said a BB circular on Sunday.

'Type C' enterprises of EPZs may obtain foreign exchange from Authorised Dealers (ADs) to settle obligations for importing capital machinery by the conversion of equivalent equity and authorised loan received in local currency, the circular added. 

Similarly, 'Type B' enterprises may convert their local equity or authorised loan received in local currency into foreign exchange to settle obligations for importing capital machinery if equity or authorised foreign loan received from abroad falls short to meet such obligations.

Instructions regarding repayment of Taka loans along with interest shall remain unchanged.

According to the Bangladesh Export Processing Zone Authority (BEPZA), 100 per cent foreign owned including Bangladesh nationals ordinarily resident abroad are Type-A company. 

Joint venture between foreign and Bangladesh entrepreneurs resident in Bangladesh are Type-B company and 100 per cent Bangladesh entrepreneurs resident in Bangladesh are Type-C company.

 
ADDRESS
Editor : A.H.M Moazzem Hossain
Published by the Editor for International Publications Limited from Tropicana Tower (4th floor), 45, Topkhana Road, GPO Box : 2526 Dhaka- 1000 and printed by him from City Publishing House Ltd., 1 RK Mission Road, Dhaka-1000.
Telephone : PABX : 9553550 (Hunting), 9513814, 7172017 and 7172012 Fax : 880-2-9567049
Email : editor@thefinancialexpress-bd.com, fexpress68@gmail.com
Copyright © 2017. All rights reserved
Powered by : orangebdlogo
close