SEZ units get wider scope for bringing overseas funds

Staff Correspondent | Published: 00:00, Nov 18,2019

 
 

The Bangladesh Bank on Sunday widened the scope for bringing funds from abroad for the enterprises which are operating in different specialised economic zones in the country.

A BB circular issued on the day said that it was observed that eligible enterprises operating in different specialised economic zones like export processing zones, economic zones and hi-tech parks received inward remittances other than foreign equity, authorised foreign loans and export proceeds.

In order to enhance scope of operation, the BB allowed authorised dealers of banks to credit the entities’ accounts with legitimate receipts against small, quality and insurance claims, freight charge of sample, reimbursement of expenses for samples from the buyers or partners, it said.

The BB, however, asked banks to check due diligence in compliance with know-your-customer, anti-money laundering or combating financing of terrorism.

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