How many Parties are involved in Letter of Credit (LC) There are mainly 6(six) parties involved in a letter of credit which may be summed up as under: a) Opener: The applicant of L/C or the Importer / Buyer / L/C applicant. b) Opening Bank: The Bank opening the L/C […]
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Impact of Foreign Exchange Rate in International Business Foreign exchange rates play a crucial role in international business transactions. The fluctuation of these rates can have a significant impact on businesses operating globally. In this article, we will explore the implications of foreign exchange rates on international trade, investments, and […]
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How to Obtain Import Registration Certificate (IRC) in Bangladesh? Introduction What is an Import Registration Certificate (IRC)? Importance of Import Registration Certificate (IRC) Eligibility for obtaining an Import Registration Certificate (IRC) Application process for obtaining an Import Registration Certificate (IRC) Required documents for obtaining an Import Registration Certificate (IRC) Fees […]
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What types of credit facilities are provided by the banks to the exporters in Bangladesh? Export plays a dominant role in the economy of our country. In the export trade, the exporter needs the finance at different stages right from the stage he gets an export order to supply […]
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What do you know about Asian Clearing Union (ACU)? Asian Clearing Union (ACU) Asian Clearing Union (ACU) is a payment arrangement whereby the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis. The main objectives of the clearing union are to facilitate payments […]
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What are the objective of Exchange control of Bangladesh? Answer: Objectives of Exchange Control: (i) Protection of Balance of Payments. One of the important objectives of exchange control is protection of balance of payments. When the balance of payments deficit of a nation becomes large an chronic an its automatic […]
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What are the Importance of International Business for economy? Answer: The points below highlight the importance of international business: a) Earn foreign exchange: International business exports its goods and services all over the world. This helps to earn valuable foreign exchange. This foreign exchange is used to pay for imports. […]
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Import and export finance under Islamic mode Foreign Exchange deals with Foreign Trade & Foreign Remittance. Foreign Trade as well as Import & Export. Foreign Remittance as well as Inward Remittance & Outward Remittance. Foreign currency instruments such as Foreign draft, Traveler’s Cheque, Bill of Exchange, MT, TT and P.O. […]
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Theories of International trade International trade theories are simply different theories to explain international trade. Trade is the concept of exchanging goods and services between two people or entities. International trade is then the concept of this exchange between people or entities in two different countries. People or entities trade […]
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Who is a notify Party of Bill of Lading? Notify is the name and address details of the person who should be notified of the arrival of the cargo… Depending on the bill of lading that is issued this could be the actual buyer or receiver of the goods, clearing […]
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SUBMISSION OF RETURNS OF FOREIGN EXCHANGE TRANSACTIONS TO BANGLADESH BANK SUBMISSION OF RETURNS OF FOREIGN EXCHANGE TRANSACTIONS TO BANGLADESH BANK INTRODUCTION: Authoriseds being responsible for dealings in foreign exchange are required to keep proper records. Dealer It is also a requirement that they submit to the Bangladesh Bank prescribed periodic returns […]
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Discuss the problems or limitations of foreign trade or International in Bangladesh Smooth foreign trade operation is essential for businesses to expand and flourish. It has a huge impact on a country’s economy. Unfortunately, Bangladesh lacks in several areas to make foreign trade easy for businesses to expand. This article […]
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Bank Financing Techniques to traders and manufacturers Financing Techniques Exporters, both traders and manufacturers, need finance before and after shipment of goods to the foreign buyers. In each of these phases (before and after), exporters need different types of financial assistance depending on the modes of payments contained in export contracts […]
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What types of credit facilities are provided by the banks to the exporters in Bangladesh? Credit facilities are provided by the banks to the exporters Export plays a dominant role in the economy of our country. In the export trade, the exporter needs the finance at different stages right from […]
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Process of import goods in Bangladesh Step 1 – Registration with CCI & E: For engaging in international trade, even traders must be first registered with the Chief Controller of Import and Export (CCI & E). By paying specified registration fees to the CCI & E- the trader will get […]
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