BB eases audit firm rules for export cash incentive claims

The Bangladesh Bank (BB) relaxed the rules for appointing audit firms to verify applications for export cash incentives and subsidies for the 2026-27 fiscal year, making the process easier for banks while keeping regulatory oversight in place.
In a circular issued on Sunday by the Foreign Exchange Policy Department-1 (FEPD-1), the central bank said banks will be allowed to use the same audit firm already engaged for their financial audit to verify export cash incentive and subsidy claims. 
However, banks must obtain a no-objection from Bangladesh Bank before doing so.
The central bank also said that if a bank needs to appoint an additional audit firm, it must seek prior approval from Bangladesh Bank. 
The application must explain why another audit firm is necessary, provide information on the firm's previous engagement with the bank, mention the number of incentive or subsidy cases involved, and include other relevant details.