Bangladesh Bank has taken a new initiative to expand the country’s export channels. For the first time, online exports have been allowed through the business-to-business-to-consumer (B2B2C) framework.
The policy was announced in a foreign exchange circular issued by the central bank on Monday.
Under the policy, products can now be sold directly to global buyers through reputable international online platforms and marketplaces.
However, exports will be completed through intermediaries such as international e-commerce platforms, marketplaces or third-party warehouses, not directly to the final customer.
The circular states that to export in the B2B2C framework, exporters will have to submit proof of registration with a recognized international online platform or warehouse to the dealer bank.
In the absence of a conventional sales contract, exporters can declare the consignment value on the basis of a proforma invoice. In addition, the dealer bank will also be able to accept shipping documents prepared in the name of the intermediary.
The new policy provides for the possibility of receiving export proceeds through banking channels and legitimate international payment service operators.
In case of platform-based sales, the obligation of banks to reconcile one-to-one payments has been relaxed even if money is received together against multiple invoices.
Dealer banks will now be able to reconcile older invoices first on a ‘first-in, first-out’ basis.
Industry stakeholders say that the policy will facilitate foreign e-commerce activities, strengthen Bangladesh’s presence in the international online marketplace and open new markets for small and medium exporters.
The new framework is expected to accelerate diversified export growth and play a significant role in more effectively integrating Bangladeshi products into the global digital retail chain.
