ANNOUNCEMENT 12 Mar 2014In March 2014, the government of Bangladesh announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
On 12 March 2014, the Bangladesh Bank issued Foreign Exchange Circular No. 13 removing a notification requirement for ofreign-owned companies. Under the new regime, foreign-owned or controlled industrial enterprises may receive interest free loans from their parent companies or shareholders abroad with a maturity of up to 1 year without any prior approval from the Bank.
Repayment, similarly, also no longer requires the Bank's approval.
Still, the transaction must be reported within one week of the receipt or repayment.