Bangladesh Bank has permitted exporters to send documents directly to buyers
Consignments valued at up to $100,000.
Bangladesh Bank has allowed exporters to send transport or shipping documents directly to foreign buyers for consignments worth up to $100,000, in a move aimed at easing foreign trade.
According to a notification issued on Monday, Authorised Dealer (AD) banks will permit exporters to prepare transport documents in the name of foreign importers or other designated parties for shipments of up to $100,000 or its equivalent.
Under the new policy, exporters can also dispatch these documents directly to importers or their nominated representatives.
Central bank officials said the initiative is intended to help exporters meet international buyers’ requirements, as many prefer documents issued in their own names and delivered directly to speed up the release of goods.
At the same time, safeguards have been introduced to ensure that export proceeds are repatriated to the country on time, officials added.
Banks, however, must verify the existence of valid export orders and confirm the authenticity of foreign buyers or consignees before approving the facility.
Business insiders welcomed the decision, noting that it would make trade operations smoother in a competitive global market.
They added that exporters often need to meet buyers’ specific conditions, and the new arrangement offers greater flexibility while maintaining measures to ensure timely repatriation of export earnings.
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