The Bangladesh Bank (BB) has eased its foreign exchange regulations concerning payments for power imports.
In a circular issued today, the central bank announced that Authorized Dealer (AD) banks can now remit funds for power purchased under government-approved cross-border arrangements without needing prior central bank approval.
The measure is intended to streamline and facilitate smooth payments for electricity imports transmitted through the national grid under bilateral agreements.
AD banks must still comply with all existing foreign exchange regulations, including Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter-Financing of Terrorism (CFT) standards. They also must continue routine reporting to the Bangladesh Bank.
If power purchase transactions require customs formalities, payments must follow the standard import procedure.
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