Rafiq runs a small food factory in Gazipur. He finds a lovely second-hand packaging machine in Italy and wants it on his factory floor next month. Before that machine moves an inch, it has to pass three gates:
May this machine come into Bangladesh at all? The government answers that.
May money leave the country to pay for it? Bangladesh Bank answers that, through the banks.
How can Rafiq and an Italian seller he has never met trust each other? International trade rules answer that.
This lesson is your map of those three gates. Once you know which rule book answers which question, every import file on your desk becomes much less scary.
Gate one belongs to the government, not to Bangladesh Bank. Which goods may come in, and on what conditions, is decided by the Ministry of Commerce under the Import and Export (Control) Act 1950.
The everyday rule book is the Import Policy Order (IPO). On top of it, the Office of the Chief Controller of Imports and Exports (CCI&E) issues public notices from time to time.
So if the question is "Is this product allowed into the country?", open the IPO, not the Bangladesh Bank circular.
At the desk
A customer asks Sumi at the import desk: "Can I bring in a used car that is ten years old?" Sumi doesn't search the FX circular. She checks the Import Policy Order, because the age limit for used cars is a government trade rule, not a foreign exchange rule.
Key words
Import Policy Order (IPO)
The government's rule book on what may be imported and on what conditions. Issued by the Ministry of Commerce for a few years at a time.
CCI&E
Office of the Chief Controller of Imports and Exports. Issues trade registrations (ERC, IRC) and public notices.
Read the rule as written (Para A-1)
Import of goods into Bangladesh is regulated by the Ministry of Commerce in terms of the Import and Export (Control) Act, 1950, through the Import Policy Order (IPO) in force and Public Notices issued from time to time by the Office of the Chief Controller of Imports and Exports (CCI&E).
Source: Bangladesh Bank, FEPD-1 Circular No. 30, 13 August 2026, Part A, paragraph 1 (page 6). The original circular is the authority.
Gate two is about money. Since March 1994, the Taka has been convertible for current account payments. In plain words: you may change Taka into dollars to pay for normal trade and services, such as buying goods from abroad. (Moving money out to buy a flat in Dubai is a different story. That is a capital payment, and the rules are much stricter.)
Because of this, Bangladesh Bank has given AD banks a general authorisation: they may send money abroad for any admissible import without asking Bangladesh Bank each time. In return, they must follow this circular and later instructions.
One line to remember: following the FX rules does not excuse the importer from the other rules. Government trade rules, customs and tax rules, and the anti-money-laundering rules (AML/CFT) all still apply in full.
At the desk
An LC application is neat: IMP form ready, PI attached, HS code filled in. But the PI price for ordinary plastic chairs is four times the market price. Karim pauses. Clean FX paperwork doesn't clean a suspicious price. Paying far too much for an import is a classic way to move money out of the country, so this one goes to the AML team before anything else.
Key words
AD (Authorised Dealer)
A bank branch licensed by Bangladesh Bank to deal in foreign exchange.
FER Act 1947
Foreign Exchange Regulation Act. The law behind all of Bangladesh Bank's FX circulars.
Current account payment
A payment for everyday trade and services, such as paying for imported goods or a training course. Different from a capital payment, such as buying property or shares abroad.
General authorisation
A standing permission. The bank does not need to ask Bangladesh Bank case by case, as long as it follows the rules.
Admissible import
An import that the law allows, made in the way the rules allow.
AML/CFT
Anti-Money Laundering / Combating the Financing of Terrorism rules.
Read the rule as written (Para A-2)
In exercise of the powers under Section 5(1) of the Foreign Exchange Regulation (FER) Act, 1947 Taka was declared convertible for current account payments from March, 1994. Within the scope of the declaration, general authorization is given to Authorized Dealer (AD) banks to effect outward remittance against admissible import transactions. AD banks shall conduct foreign exchange transactions on import 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 Act, 1947. Nothing in the foreign exchange regulations relieves the importers from the necessity of complying with the import trade regulations prescribed by the Government and relevant other regulations of the country such as AML/CFT norms, taxes/customs regulations, etc.
Source: Bangladesh Bank, FEPD-1 Circular No. 30, 13 August 2026, Part A, paragraph 2 (page 6). The original circular is the authority.
Gate three is trust between strangers. The International Chamber of Commerce (ICC) writes a "common language" that banks all over the world understand:
UCP: the rules for letters of credit (LCs). Banks must follow the current UCP when they issue an import LC.
URC: the rules for documentary collections. Banks should follow the latest URC when an import is paid by collection under a sales contract.
Incoterms: who pays freight and insurance, and where the risk passes. For imports, banks must check the IPO before choosing one.
And the tie-breaker: if an ICC rule and a Bangladesh rule ever disagree, the Bangladesh rule wins.
At the desk
An importer wants to buy on FOB terms, which is perfectly normal anywhere in the world. Rina knows Incoterms allow it, but she also knows the Bangladesh rules prefer CFR/CPT and allow FOB only under the conditions in A-15. The international rule book opens the door; the local rule book decides how wide.
Key words
UCP
Uniform Customs and Practice for Documentary Credits. The ICC rule book for LCs (current version: UCP 600).
URC
Uniform Rules for Collections (URC 522). Rules for sending documents through banks for payment without an LC.
Incoterms
ICC trade terms such as FOB or CIF that say who pays which costs and where risk passes.
Letter of credit (LC)
A bank's promise to pay the seller, as long as the seller presents the right documents on time.
Documentary collection
The seller's bank sends the shipping documents to the buyer's bank, which hands them over only when the buyer pays or accepts a bill. No bank promise to pay.
Read the rule as written (Para A-3)
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 follow the rules of prevailing UCP for issuing Letter of Credit (LC) against import trade. While executing admissible import transactions under sales contracts on documentary collection basis, ADs are advised to observe the latest version of URC. For use of incoterms, ADs shall consult with the IPO in force. Local regulations will, however, prevail in case of contradiction.
Source: Bangladesh Bank, FEPD-1 Circular No. 30, 13 August 2026, Part A, paragraph 3 (page 6). The original circular is the authority.
Before anyone imports, they must be registered with the CCI&E under the Importers, Exporters and Indentors (Registration) Order 2023, unless that Order exempts them.
In daily life this registration is the IRC (Import Registration Certificate). It is the importer's licence to buy from the world.
At the desk
A new customer arrives with a big order for kitchen tiles and is in a hurry. Hasan asks for the IRC and sees it expired last year. He smiles and says, "Let's renew this first. The tiles will wait a week; the regulator won't." (In Lesson 4 you'll see that the IRC number must also be written on the IMP form.)
Key words
IRC
Import Registration Certificate, issued by CCI&E. An importer needs a valid one unless the law exempts them.
Read the rule as written (Para A-4)
In terms of the Importers, Exporters and Indentors (Registration) Order, 2023 no person can import goods into Bangladesh unless he/she is registered with the CCI&E or exempted from the provisions of the said Order.
Source: Bangladesh Bank, FEPD-1 Circular No. 30, 13 August 2026, Part A, paragraph 4 (page 6). The original circular is the authority.
Some imports are not ordinary buy-and-sell deals. They come under special arrangements: a grant from a foreign government, a loan from a development partner, or a barter deal where goods are paid for with goods.
For these, Bangladesh Bank issues specific instructions for each arrangement, and banks must follow them. Think of it as a special chapter that sits beside the general rules.
At the desk
A government project receives machinery financed by a foreign development loan. Before processing it, Shuvo asks, "Which Bangladesh Bank instruction covers this loan?" The general import steps still help, but the special instruction for that arrangement decides the details.
Key words
Barter
Paying for goods with other goods instead of money.
Grant
Money or goods given by a foreign government or agency that do not have to be paid back.
Read the rule as written (Para A-11)
Specific procedural instructions regarding imports under special arrangements or agreements (grants, loans, barters etc.) issued by Bangladesh Bank from time to time should be followed by ADs.
Source: Bangladesh Bank, FEPD-1 Circular No. 30, 13 August 2026, Part A, paragraph 11 (page 9). The original circular is the authority.
So far: the government decides what may come in (IPO), Bangladesh Bank decides how the money goes out (through AD banks), and the ICC rules give everyone a common language, with local rules winning any argument. Every importer needs a valid IRC, and special deals follow their own instructions.
Next, we meet the system that lets Bangladesh Bank watch every import as it happens: OIMS.
Check yourself
Four quick questions. Nobody sees your answers but you.
Whether goods may be imported is a government matter, decided under the Import Policy Order and CCI&E public notices (A-1).
A-2: since March 1994 the Taka is convertible for current account payments, and ADs have a general authorisation for admissible imports.
A-3: for import transactions under sales contracts on a documentary collection basis, ADs should follow the latest version of URC.
A-11: for imports under special arrangements such as grants, loans or barter, ADs follow the specific instructions Bangladesh Bank issues for them.
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