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Release of foreign exchange against cost of advertisement Sept 8_2015

Type: Circular
Issuing Agency: Bangladesh Bank
Responsible Agency: Bangladesh Bank
Issuing Date: 16-08-2015
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
F.E.   Circular Letter No. 20                                                      Date: September 08, 2015
Head offices/principal offices of all Authorized Dealers of Foreign Exchange in Bangladesh
Dear Sirs,
Release of foreign exchange against cost of advertisement for Bangladeshi products in foreign electronic/online media
Please refer to paragraph 33, chapter 10 of Guidelines for Foreign Exchange Transactions (GFET)-2009, Vol-1 in terms of which Authorized Dealers (ADs) are allowed to make remittances for advertisement of Bangladeshi products in mass media abroad.
2.      It is clarified that ADs may effect remittance towards cost of advertisement of Bangladeshi products in foreign electronic and online media in dynamic, image, video, interactive and/or other formats, after satisfying themselves with the genuineness and bonafides of the requests through agreement and invoices and after deducting all applicable taxes.
3.       Remittances under authority of this circular letter may only be made through an AD branch designated by the remitters for the purpose under intimation to Foreign Exchange Operation Department, Bangladesh Bank, Dhaka/area office of Bangladesh Bank
Please bring the contents of this circular to the notice of all concerned.
Yours faithfully,
(Md. Abdul Mannan)
Deputy General Manager
Phone: 9530319

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