NBR links ASYCUDA World with BGMEA e-UD for bond modernisation

The integration came into effect on January 11 with a plan to make the bond management system more modern, efficient and technology-driven, while ensuring faster assessment and clearance of bonded raw materials and exported goods, NBR officials said.

They said the initiative is also expected to strengthen transparency, accountability and competitiveness in line with international best practices.

Under the bonded warehouse facility, exporters, particularly those in the readymade garment sector, can import raw materials duty-free against their export commitments.

Previously, verification of Utilisation Declarations (UDs) involved manual processes and reliance on BGMEA’s internal system.

This often resulted in procedural complexities, delays in clearance, and challenges in ensuring effective oversight, revenue protection and accountability.

With the new interconnection, UD verification will now be conducted fully online and on a real-time basis through ASYCUDA World, Bangladesh’s automated customs management system.

According to the NBR officials, the move will significantly reduce paperwork, minimise human intervention and speed up customs procedures for both imports and exports under the bond facility.

The NBR said the initiative would bring several tangible benefits, including faster and more efficient clearance of import-export consignments, reduced dependence on physical documents, and a substantial reduction in revenue risks through improved digital verification.

The integration is also expected to enhance overall risk management and strengthen safeguards against misuse of bonded facilities.

Officials noted that the successful completion of the pilot phase paved the way for the full-scale integration. Following this, the authorities plan to gradually introduce electronic UD write-off procedures, further automating the bond management lifecycle and reducing manual interventions at later stages.

The integration has been implemented as a joint initiative of the NBR and BGMEA, reflecting closer collaboration between the revenue authority and the country’s largest export-oriented trade body.

The readymade garment sector accounts for the bulk of Bangladesh’s export earnings, and efficient bond management is considered critical for maintaining its global competitiveness.

Describing the initiative as a milestone, the NBR said the interconnection is a major step towards establishing a paperless customs system in Bangladesh.

It is expected to play an important role in trade facilitation, reducing transaction costs, and aligning the country’s customs administration with international standards.

The NBR reiterated its commitment to leveraging technology to modernise customs operations, improve ease of doing business and support the country’s export-led growth, while ensuring effective revenue protection and regulatory compliance, reports UNB.