Who makes export rules in Bangladesh, and why a bank must follow more than one rule book.
Think of a cricket match. The players follow the Laws of Cricket, the tournament has its own playing conditions, and the umpire can give extra instructions on the day. An export is the same. Several rule books apply at once, and a good banker knows which book answers which question.
This first lesson is short. It shows you the four rule books that sit behind every export file on your desk.
Who may export what, and how, is decided by the government, not by Bangladesh Bank. The main sources are the Import and Export (Control) Act 1950, the Export Policy, and the public notices of the Ministry of Commerce and the Office of the Chief Controller of Imports and Exports (CCI&E).
So if the question is "Is this product allowed to leave the country?", the answer is in the Export Policy, not in this circular.
Mitu at the trade desk gets a call: "Can my client export sand?" She doesn't search the Bangladesh Bank circular first. She opens the Export Policy, because whether a product may be exported is the government's call.
Export from Bangladesh is regulated by Import and Export (Control) Act, 1950, Export Policy, and Public Notices issued from time to time by the Ministry of Commerce and the Office of the Chief Controller of Imports and Exports (CCI&E).
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 1 (page 8). The original circular is the authority.
Banks that are allowed to deal in foreign currency are called Authorised Dealers (ADs). They handle the money side of exports under this circular, using powers that the Foreign Exchange Regulation Act 1947 gives Bangladesh Bank.
One important line: following the foreign exchange rules does not excuse anyone from the other rules. The government's trade rules and the anti-money-laundering rules (AML/CFT) still apply in full.
A file is perfect on the foreign exchange side: EXP form, LC, all in order. But the buyer's name appears on a sanctions list. The deal stops. Clean FX paperwork never cleans a suspicious transaction.
Authorized Dealers (ADs) may conduct foreign exchange transactions on export in conformity with the instructions contained in this circular and to be issued by Bangladesh Bank from time to time in exercise of the powers conferred by Section 20(3) of the Foreign Exchange Regulation (FER) Act, 1947 (As amended in 2015). Nothing in the foreign exchange regulations relieves ADs and exporters from the necessity of complying with the Export Trade Regulations prescribed by the Government and relevant other regulations such as AML/CFT.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 2 (page 8). The original circular is the authority.
International trade has its own "common language", written by the International Chamber of Commerce (ICC):
Banks must make sure export LCs follow the current UCP, and should follow the latest URC for collections. If an ICC rule and a Bangladesh rule ever disagree, the Bangladesh rule wins.
A foreign LC for garments offers payment 200 days after shipment. Under UCP that is a perfectly valid LC. But the Bangladesh rule says the money must come home within four months (A-8), so without Bangladesh Bank's permission the deal breaks local law. Local law sits on top.
ADs shall observe best practices in accordance with applicable international trade rules such as Uniform Customs and Practice (UCP), Uniform Rules for Collections (URC), Incoterms, etc. ADs are required to ensure that the terms of the Letters of Credit (LCs) are in conformity with the rules of prevailing UCP for exports from Bangladesh. While executing export transactions under sales contracts on documentary collection basis, ADs are advised to observe the latest version of URC. Local regulations will, however, prevail in case of contradiction.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 3 (page 8). The original circular is the authority.
Before a bank handles an export, the exporter must be registered under the Importers, Exporters and Indentors (Registration) Order 2023. In daily life this is the ERC (Export Registration Certificate).
No valid ERC, no export file. It is the exporter's licence to trade with the world.
A new customer brings a big export order and is very excited. Tanvir checks the ERC and sees it expired last year. He smiles and says, "Let's renew this first. The order will wait one week; the regulator won't."
ADs should ensure that exporters are registered under the Importers, Exporters and Indentors (Registration) Order, 2023.
Source: Bangladesh Bank, FEPD-1 Circular No. 26, 30 July 2026, Part A, paragraph 4 (page 8). The original circular is the authority.
So far: the government decides what may be exported, Bangladesh Bank decides how the money moves, and ICC rules give the international language. Next, we come to the heart of every export rule: the promise to bring the money home.
Four quick questions. Nobody sees your answers but you.
Whether goods may be exported is a government matter, covered by the Export Policy and CCI&E notices (A-1).
A-3 says local regulations prevail in case of contradiction.
A-2: following FX rules does not relieve anyone from other rules such as AML/CFT.
A-4 requires registration under the 2023 Registration Order. That registration is the ERC.
Anonymous. It only adds one to a count, so we know who the lessons are helping. We never learn who you are.
Brain feeling full? Take a tea break.