Bangladesh Bank has issued new guidelines allowing the electronic submission and processing of export documents, marking a significant step towards the digitalisation of the country’s export procedures.
According to a circular issued by the central bank, authorised dealers are now permitted to process export documents through bank-to-bank electronic means. The policy applies to documentary collection arrangements under both Documents against Payment (DP) and Documents against Acceptance (DA) modes.
The initiative is intended to align Bangladesh’s export documentation framework with global digital standards and is based on the Uniform Rules for Collections (URC 522) Supplement for Electronic Presentation (eURC).
Under the new guidelines, authorised dealers must ensure that a prior mutual agreement is in place with their overseas counterparts, including collecting or presenting banks. Such agreements are required to specify the format of electronic records and the designated place of presentation. In addition, all sales contracts must clearly state that documentary collections will be handled electronically in accordance with eURC provisions.
Where local laws permit the use of Electronic Transferable Records, banks may present all documents electronically, including those related to title to goods, provided the legal characteristics of such documents are fully preserved. However, in jurisdictions where Electronic Transferable Records are not legally recognised, documents involving title to goods or transferability, such as bills of lading or bills of exchange, must continue to be transmitted in physical form, while other supporting documents may be sent electronically.
The guidelines also provide for situations in which a collecting bank requires physical documents despite electronic presentation. In such cases, authorised dealers may issue authenticated electronic copies clearly marked as ‘Electronically Received – Authenticated Copy’.
To safeguard the integrity of the process, Bangladesh Bank has approved several secure endorsement mechanisms. These include the use of digital signatures or platform-based endorsement tools with audit trails for transport documents issued through recognised platforms. Alternatively, banks may use a Digitally Signed Endorsement Certificate or SWIFT-based messages to evidence endorsement.
Banks are required to maintain a complete audit trail for all electronic submissions and ensure secure storage of records in line with existing regulatory requirements. They have also been encouraged to align their systems with internationally recognised information security standards.
Bangladesh Bank has advised that the adoption of electronic processing should follow a phased and risk-based approach. Banks are permitted to begin operations on a pilot basis and must inform the central bank once such activities commence. The gradual rollout is aimed at ensuring a smooth transition while safeguarding the legal enforceability and security of the country’s export processes.
