Export docs verification tightened

All export documents must be verified by authorised audit firms for claiming cash incentives against overseas sales.

Bangladesh Bank issued a circular on Wednesday to this effect.

Before the new rules, commercial banks had to have a part of the documents verified by authorised audit firms to claim the incentive from the central bank for the exporters.

The circular said the documents could also be verified by audit firms authorised by the commercial banks.

Verification can also be done by audit firms not approved by the central bank or commercial banks for prompt completion of the job, but the banks have to take permission from Bangladesh Bank for that explaining the necessity.

Exporters of 14 products will receive cash incentive for their overseas sales during the current 20013-14 financial year.

Source: Bd news24