OPERATION OF FC ACCOUNT BY TYPE-B AND TYPE-C GARMENTS INDUSTRIES IN EPZS
(Bangladesh Bank FE Circular No. 66, dated 23 August, 1984)
In partial modification of the instructions contained in para 4(ii) and 4(iii) of the Bangladesh Bank's FE Circular No. 37, dated 10 May, 1983, it has since been decided that the authorized dealers may credit to the FC account to Type-B or Type-C garments manufacturing units in the EPZs an amount not exceeding 75% of the C&F / FOB value, as the case may be, of each export consignment realized without prior permission from the Bangladesh Bank. The remaining 25% shall be credited to a local currency account at the official exchange rate.
2. Withdrawals may be made freely by the Type-B and Type-C garments industries of the EPZs from the foreign currency account maintained by them for local disbursement as also for remittance abroad for importation of capital machinery and raw materials, payment of service charges and royalty, repayment of loans etc.