Exporters can now send documents abroad directly
Earlier, traders sent export documents abroad through banking channels within 14 days of shipping
From now onwards, exporters can send export documents to foreign importers or their representatives through their own websites or secure channels, provided some specific conditions are met.
The Bangladesh Bank issued a circular in this regard informing all authorised dealer banks of this on Sunday.
Regarding the new policy, central bank officials said the foreign transaction system is being updated in a timely manner. According to the conditions given in the new guidelines, an exporter can send the export documents abroad himself as per the conditions of the foreign buyer.
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Authorised dealer banks would endorse the original transport documents in the name of the party concerned after receiving the export income information.
Earlier, traders had to send export documents abroad through banking channels within 14 days of shipping.
Appreciating the new guidelines of the Bangladesh Bank, Bangladesh Knitwear Manufacturers and Exporters Association Vice President Mohammad Hatem said the practice of sending export documents abroad through banking channels has practically been discarded upon the demand of foreign buyers.
"The current system has been recognised in the new guidelines of the central bank. This has made practice and policy easier for exporters," he added.
