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BANGLADESH: Inter-Bank Forex Transactions to be Cleared in 24 Hours

The maximum time required to clear and settle inter-bank transactions in foreign currencies will be cut from 7-10 days at present to just 24 hours from 3 May 2018. This change is aimed at expediting export and import-related transactions as part of a larger bid to improve Bangladesh’s climate for international trade.

The change will involve an upgradation of its Bangladesh Automated Clearing House (BACH) system to allow same day settlement of payments in five designated foreign currencies - US Dollar, Pound Sterling, Euro, Canadian Dollar and Japanese Yen.

Content provided by Picture: HKTDC Research
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