Business Desk :
Authorized dealers (ADs) may, on application from exporters, retain value added portion of export proceeds in foreign exchange for a maximum period of 15 days in order to restore flexibility in trade transactions, according to a decision by Bangladesh Bank.
The fund so retained will be used through same ADs for settlement of other import obligations payable by same exporters within this period, said a circular issued by the central bank on Wednesday.
In case of the fund remaining unused, ADs shall encash the same compulsory in Taka just after expiry of 15 days. However, the unused funds can, on request from exporters, be encashed before this allowable time, the circular added.
According to business insiders, the new rules will facilitate exporters to avoid exchange loss for import payments by own funds.
