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The FEPD is responsible for formulating and
implementing policies related to foreign exchange and makes institutional
arrangements for receipts and payments and settlements with the external world
in terms of the authority vested in Bangladesh Bank by the Foreign Exchange
Regulation (FER) Act. 1947 as adapted in Bangladesh specifically,
01. It sets the criteria and conditions for
holding and dealing in foreign exchange by resident entities and issues
licenses to Authorised Dealers and Money Changers.
02. It sets supervisory and monitoring guidelines for offsite and onsite
supervision of foreign exchange transactions and formulates &
implements instructions regulating inflows and outflows on external settlements
in both the current and capital accounts, including external borrowings
and amortization payments.
03. It formulates policies and makes institutional arrangements in regards to
exchange rates.
04. It maintains liaison between the Bangladesh Government and foreign
bilateral/multilateral agencies on the issues of
(I) external trade
(II) receipt and utilization of official
grants/Loans
(III) private inflows of remittances, etc.
05. It initiates legal proceedings to address violations of Foreign Exchange
Regulation Act-1947 as adapted in Bangladesh.
06. It monitors reporting of foreign exchange receipts against exported goods
and receipt of goods against payment from Bangladesh.
07. It supervises and monitors Authorised Dealers (AD) and ensures compliance
of ADs with the prudential supervisory limits on their open exchange positions.
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