CASH INCENTIVES AGAINST EXPORT

Banks asked to receive application even if export proceeds not repatriated

Staff Correspondent | Published: 00:25, Aug 17,2017 | Updated: 00:39, Aug 17,2017

 
 

Bangladesh Bank on Wednesday asked commercial banks to receive the applications submitted by the exporters against their claimed subsidy and cash incentive even if the export proceeds were not repatriated.
The exporters, however, will get the cash incentive and subsidy against their exported items after the repatriation of the export proceeds.
In such case, the banks earlier did not accept the applications from the exporters if the export earnings were not repatriated to Bangladesh.
The BB issued a circular to authorised dealer branches of all banks asking them to follow the new directives so that the exporters could enjoy the subsidy and cash incentive instantly after repatriation of export earnings.
The banks, however, will have to take prior approval from the central bank before processing the applications, according to the circular

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