DEPOSIT OF EXPORT EARNINGS IN FC ACCOUNT OF TYPE-A & TYPE-B INDUSTRIES IN EPZS
(Bangladesh Bank FE Circular No. 25, dated 16 July, 1989)
In partial modification of the instructions contained in para 4(i) and (ii) of FE Circular No. 37 of 1983, it has been decided that:
(a) The existing provision for deduction of 5% of the C&F / FOB value of each export consignment in respect of Type-A industries in the Export Processing Zones in withdrawn. Henceforth, Type-A industries of EPZs shall be allowed to deposit 100% of their export proceeds in a foreign currency account maintained with an authorized dealer in Bangladesh.
(b) Type-B industries of EPZs (joint venture enterprises) other than garments industries shall, henceforth, be allowed to deposit 70% (seventy percent) of their export value in their foreign currency accounts without prior permission of the Bangladesh Bank and the remaining 30% (thirty percent) will continue to be deposited in local currency accounts at official rate of exchange.