In a step toward establishing a paperless customs environment, the National Board of Revenue (NBR) and Bangladesh Bank (BB) have officially integrated the Asycuda World system with the Foreign Exchange Transaction Management System (FxTMS).
NBR Chairman Md. Abdur Rahman Khan inaugurated the integration process on Tuesday.
Following a successful User Acceptance Test, the piloting phase of this initiative has officially commenced.
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This new system ensures that commercial invoices issued by exporters are transmitted in a uniform format from all commercial banks to the Asycuda World system via Bangladesh Bank's FxTMS in real-time.
Previously, importers had to submit physical copies of bank-certified invoices to Customs. Now, the automated data flow eliminates the need for manual submission.
According to the NBR, the integration will make the invoice verification process entirely online, reduce dependency on paperwork, and help protect revenue by preventing evasion.
It is also expected to significantly reduce revenue risks, curb trade-based money laundering, and simplify the clearance process for imported and exported goods.
Furthermore, the system will help build a reliable database for product valuation.
After the piloting phase is successfully completed, the digital attachment of commercial invoices will be made mandatory for all Bills of Entry.