Circular No. 13 dated 24 August 2023 issued by the Foreign Exchange Policy Department of the Bangladesh Bank on “Export Subsidies/Cash Incentives for the Financial Year 2023-24”

To enhance the country’s export trade, the government has taken the initiative to offer export incentives or cash assistance for the export of 43 specific products during the current financial year 2023-24 (1 July 2023 to 30 June 2024).

Exporters will be eligible to receive cash incentives ranging from 1% to 20%, similar to what they received the previous financial year. Like the prior year, the process for applying for the export incentives will involve audits conducted by firms authorized by the Bangladesh Bank and appointed by the respective banks.

However, in cases where additional audit firms are deemed necessary to expedite the audit procedures, exporters can submit an application for this purpose to the Bangladesh Bank. The application should clearly specify the required number of audit firms, along with a justification and essential details supporting this decision.