Dhaka, Aug. 4 -- Bangladesh Bank (BB) has rationalised declaration requirements on import and export transactions between connected entities to facilitate legitimate trade while ensuring regulatory compliance.

According to a circular issued on Tuesday by the Foreign Exchange Policy Department (FEPD-1) of the central bank, businesses involved in intercompany transactions will no longer be required to submit the general declaration stating they have no direct or indirect connection or financial interest with foreign exporters.

Instead, for trade involving parent companies, approved foreign subsidiaries, or legitimate branch offices abroad, importers must now declare that the transaction is conducted on an arm's length basis reflecting a c...