Insurance Cover Note / Insurance Policy
Imports in Bangladesh will have to be conducted with an Insurance Cover Note. This requirement is delineated in the Import Policy Order, 2015-2018 (Paragraph 5(5)(a)(i), Paragraph 8(11)(c), Paragraph 8(13)(g)).
The Insurance Cover Note must be purchased from the Sadharan Bima Corporation (a Government owned general insurance enterprise) in case of import at the government level or any non-life insurance company approved by the Government in case of private import. For private sector importers, a duly stamped Insurance Policy against this Cover Note will have to be obtained. The Insurance Policy must be submitted to the customs authority during the release of imported goods.
For more information on Insurance Cover Note /Insurance Policy, visit Sadharan Bima Corporation (SBC) website www.sbc.gov.bd .
Export Credit Guarantee
Procedures for export credit are delineated in the Export Policy, 2015-2018 (Paragraph 4.5).
The export credit guarantee schemes (ECGS) available in Bangladesh are administered by the Sadharan Bima Corporation (SBC). The ECGS covers the risk/solvency of buyers and political risks inherent in foreign trade.
For more details or updated information on export credit guarantee schemes (ECGS), visit Sadharan Bima Corporation website www.sbc.gov.bd.