The National Board of Revenue (NBR) has integrated Asycuda World with the Foreign Exchange Transaction Management System (FxTMS) to mitigate revenue risks, streamline import clearance, and curb trade-based money laundering.
The NBR and Bangladesh Bank jointly launched the system, with pilot operations commencing on Tuesday following the successful completion of the user acceptance test (UAT).
NBR Chairman Md Abdur Rahman Khan officially inaugurated the initiative at NBR Bhaban in Dhaka.
The new system ensures that the verification of commercial invoices will be conducted fully online and in real time, significantly enhancing transparency and efficiency in customs operations. Officials stated that this move is also expected to reduce reliance on paper documents, thereby preventing revenue leakage.
NBR Chairman Khan stated that the integration would lower revenue risks, expedite the clearance of import and export goods, and curb trade-based money laundering. It will also facilitate the development of a reliable product valuation database, strengthening overall trade management.
Currently, importers are required to submit hard copies of bank-certified commercial invoices to customs offices. With the new system, invoice data will be transmitted automatically, eliminating the need for physical submission.
Once the pilot phase concludes successfully, the NBR plans to gradually mandate the inclusion of commercial invoices in bills of entry.
Khan described the initiative as a significant step towards establishing a paperless customs system, which will play a crucial role in trade facilitation and the modernisation of Bangladesh’s customs framework.
