Central Bank Simplifies Export Through International Online Platforms

The circular states that exporters can sell products via well-known international marketplaces or platforms. Authorized Dealer (AD) bank branches will manage these export operations. In this model, the foreign buyer does not deal directly with the exporter; instead, the marketplace or a third-party warehouse serves as the intermediary.

To initiate exports, exporters must submit proof of registration with a globally recognized online platform or warehouse to the AD bank. B2B2C transactions typically do not require traditional sales contracts; exporters can declare the fair value of goods via proforma invoices. Shipping documents from the warehouse or other service providers will also be accepted by the bank.

For export earnings, the AD bank will receive funds via normal banking channels or international payment service operators. Even if payments are received through multiple channels, the bank will reconcile earnings based on a first-in, first-out principle.

This new initiative facilitates direct access to international markets and plays a crucial role in expanding global sales for exporters.