Bangladesh Bank (BB) has introduced new guidelines for cash assistance on exports of frozen shrimp and other fish products. Under the new directive, exporters seeking cash assistance must now submit a certificate from the relevant trade organization. This directive, issued by the Foreign Exchange Policy Department of BB, was sent to all authorized dealers in foreign exchange transactions for immediate implementation.
The government has mandated that companies applying for cash assistance for frozen shrimp and other fish exports must be members of the Bangladesh Frozen Foods Exporters Association (BFFEA) or the Bangladesh Marine Fisheries Association (BMFA). These certificates from BFFEA and BMFA must accompany the cash assistance application. Additionally, the exporting company should hold a valid license from the Department of Fisheries. These instructions apply to goods shipped from the date of the circular’s issuance.
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