Home » Bangladesh Publication » Circular No. 04 dated 13 April 2023 issued by the Foreign Exchange Investment Department of the Bangladesh Bank on “Placement of Funds from Offshore Banking Operations (“OBOs”) with Domestic Banking Units (“DBUs”)”
Circular No. 04 dated 13 April 2023 issued by the Foreign Exchange Investment Department of the Bangladesh Bank on “Placement of Funds from Offshore Banking Operations (“OBOs”) with Domestic Banking Units (“DBUs”)”
May 3, 2023OBOs are allowed to place funds with their DBUs in an amount up to 25% of the total regulatory capital of the bank to settle import payments for capital machinery, industrial raw materials, and other imports by the government.
The circular specifies a relaxation of the limit to bring further flexibility for external transactions, allowing DBUs to receive funds from any OBOs up to 40% of their total regulatory capital to settle permissible payment obligations as per the prevailing foreign exchange rules and regulations. The relaxation will remain valid until 31 December 2023.
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