BB issues new guidelines on cash incentive for shrimp, fish exports

Bangladesh Bank (BB) has issued new guidelines for cash incentive against exports of frozen shrimp and other fish items.

The Foreign Exchange Policy Department of the BB today issued the guidelines and instructed all the authorised dealers in foreign exchange transactions for immediate execution.

As per the new directive, from now on the application for cash assistance will have to submit the certificate of the concerned trade organisation, reports BSS.

The BB directive stated that it is informed by the government decision that the company applying for cash assistance in the frozen shrimp and other fish export sector must be a member of the Bangladesh Frozen Foods Exporters Association (BFFEA) or a member of the Bangladesh Marine Fisheries Association (BMFA) for the export of frozen shrimp and other fish harvested and processed from the deep sea.

Besides, from now on, the BFFEA and the BMFA certificates must be submitted along with the application form for cash assistance against the export of frozen shrimp and other fish.

The concerned exporting company should be a fish exporting company duly licensed by the Department of Fisheries.

The said instructions will come into effect in respect of shipped goods from the date of issue of the circular.