Honorable BAFFA Members,

Sub: Meeting with Biman Bangladesh Airlines on Revised Rate of Exchange

Please be noted that, an emergent meeting been held with the higher authority of Biman in the conference room at its head office (Balaka Bhaban) at 11.00 am on 3rd January 2013 in regards to discuss and resolve the existing crisis on Currency Exchange Rate which has been chaired by Mr. Mohammad Shahnewaz - Director Marketing & Sales (DMS) of Biman, while the following BIMAN and BAFFA officials were present in the meeting:

On behalf of Biman Bangladesh Airlines:

1). Mr. Mohammad Shahnewaz – Director Marketing & Sales
2). Mr. Mohd Ali Ahsan Babu – General Manager, Cargo
3). Mr. Harun Khan – Asst. Manager, Tariff & IATA Affairs
4). Mr. Md. Hafizul Islam – Commercial Officer, Tariff & IATA Affairs (M & S)
5). Mr. Alamgir Kabir – Commercial Officer

On behalf of BAFFA:

1). Mr. Mahbubul Anam – President
2). Mr. ABM Rafiquz Zaman SAGAR – Vice President
3). Mr. Md. Mafizul Islam – Director

Please be noted that, said meeting was held as the immediate re-action on BAFFA letter ref: BAFFA/Biman/2012/0275, dated 31/12/2012 to Biman in response to its circular on Revised Rate of Exchange dated 30/12/2012 vide ref: DACFD/08/2012/443 issued by the Manager Cargo Export of Biman, which has been clearly declined by BAFFA in the meantime and strongly insisted them to re-fix the same as per the existing market rate of exchange as well with immediate effect.

However, honorable president of BAFFA and his team has explained the situation to the chair and strongly opposed the tendency and practice of the Tariff Department of Biman in fixation of Currency Exchange Rate against U. S. Dollar from time to time, which cost a huge financial damage to the Freight Forwarding community in the country and prevailing unusual benefit to the foreign airlines remitting excess fund in foreign currency from the country even.

Though the Tariff & IATA Affairs department was claiming that, they being following the guide line provided by the Central Bank, which has been issued in the year 2008 only in regards to fix the currency exchange rate for all airlines operating from/into Bangladesh till dated, which has also declined by BAFFA and press them hard to re-fix the Currency Exchange Rate as per the existing market rate provided by the scheduled commercial bank with immediate effect, other wise, Biman will be held responsible for any unavoidable circumstances may arise in this regard in future.

After a long discussion and several argument from both side, finally it has been advised by Biman that, they will take the following measures to ease the present crisis on Rate of Exchange as follows:

A). Biman will collect the referential rate of exchange from Sonali Bank Ltd., for the last one month as per the guide line of the Central Bank and will publish the Revised Rate of Exchange effective from 16th January 2013 until further notice.

B). In case of any frequent deviation on currency exchange rate, Biman will review the rate of Exchange on a monthly basis and will publish the same immediately in order to avoid such unusual situation in this regard in future.

We are in continuous touch with the concerned authority in this regard and will keep you posted from time to time.

Above for your kind information and ready record as well.

Thanks with best regards.



Posted on 09-01-2013

Friday, 25 May, 2018