Methods of Dispatch of Statements S-1,S-2,S-4,S-5,S-6 to the Bangladesh Bank

Methods of DISPATCH of Statements S-1,S-2,S-4,S-5,S-6 to the Bangladesh Bank

1. Reporting of transactions under FC Accounts other than those of Bangladeshi National working aboard.
-Deposits and withdrawals in FC should not be included in the summary Statements Viz S-1, S-2 etc.
-Withdrawals in Taka in Bangladesh should be treated as inward remittance and should be shown as purchase in summary statements S-1, S-2, etc.
2. Reporting of transactions under FC accounts of Bangladeshi Nationals
-Head Office will submit FCS-7 for Pound Sterling, US Dollar, DM and Japanese Yen in duplicate.
– The figure reported in FCS-7 must be supported by schedules FCR-123,etc and FCP-1,2,3,etc.along with relevant IMP,TM forms.
3. Reporting of Inland L.C settlements

– Payments against Inland LCs in Foreign Exchange will be reported in summary statements S-1, against Sl.No.11 on sales side as “Payments against Inland LC”. The receipt on the purchase side of S-1 against Sl. No.11 as “Receipt in settlements of Inland LC.

4. Reporting of transactions under Exporters FC Retention quota Accounts
– to be reported in summary statements EFCS-8
– Credit to retention quota account out of repatriated export proceeds (except ACU Dollar) shall be shown under SL.No. 9 in sales side of S-1 as “ Transfer on account of exporters retention quota EFCS-8”. As a contra, this amount will be shown in deposits side of settlement EFCS-8 at SL. No. Schedule EFCR-8 will accompany this statement.
_Credit in ACU Dollar under mechanism shall be shown in the sales side of S-2 at SL. NO.9 as “Transfer to S-1 on account of exporter retention quota”. Simultaneously , this amount will be shown in the purchase side of S-1 at SL.No.9as “ Receipt from S-2/S-4/S-5 on the account of exporters retention quota” As contra, same amount will be reported in the sales side of S-1 and EFCS-8.
-The portion of retention quota maintained as term deposits is to be shown separately at item No.1 on the deposit side of EFCS-8 in the space provided for therein.
– Payment of imports and other expenses (except ACU Dollar) by the exporters should be reported in the withdrawal side against SL. No. 1 & 2 enclosing EFCP-1 and EFCP-2 respectively.
– Payment of imports and expenses though ACU Dollar should be shown in the withdrawal side EFCS-8 at SL.No. 3 as “Transfer to S-2 for the settlement under ACU” and its contra on the Purchase side of S-2 of SL. No.9 as “Receipt by way of transfer from EFCS-8 for payment through this account.”

J-1/0-3 : For reporting receipt other than exports covering purposes codes from 0001-5999 And a C form must be attached.
J-2/0-3 : For reporting receipt other than exports covering purposes codes from 6001-9999 And a C form must be attached.
IRV-1/0-4: Is designed to collect details regarding inward remittances for amount below USD.2,000.00 equivalent taka and covers purposes codes from 0001-5999.
IRV-2/0-4: Inward remittance voucher amounts below USD.2,000.00 equivalent taka and covers purposes codes from 6001-9999.

Note:

The total of IRV amount must tally with the corresponding entry against items No.03 of relative summary statement.

Financial information of Bangladesh

Financial information of Bangladesh Financial Statistics year (June, 2016) Total Number of Commercial Banks: 56 State Owned Bank: 6 (Agrani Bank Limited,Janata Bank Limited,Sonali Bank Limited,Rupali Bank Limited,Bangladesh Krishi Bank,Rajshahi …

FOREIGN CURRENCY ACCOUNTS

FOREIGN CURRENCY ACCOUNTS   PRIVATE FOREIGN CURRENCY ACCOUNTS Opening of FC accounts with ADs in Bangladesh 1. (i) The ADs may without prior approval of the Bangladesh Bank open foreign …

Central bank governors list

Central bank governors list List of Central bank governors of the world The list of the governors of important banks. Governor is generally the head/ chairman of the central bank …

About Branch Banking

About Branch Banking   About Branch Banking: Wikipedia says A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution (and …