Dhaka, Jan. 11 -- The National Board of Revenue (NBR) has established an electronic interconnection between ASYCUDA World and BGMEA's e-Utilisation Declaration (e-UD) system, aiming to modernise Bangladesh's bond management and customs clearance processes.

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 garme...