NBR Achieves Digital Milestone with CBMS in Bonded Warehouse Management
The National Board of Revenue (NBR) has achieved a major milestone through the Customs Bond Management System (CBMS) as part of its paperless and digital bonded warehouse management initiative. From January 1 to March 16 of the current year, the agency issued nearly 25,000 Utilization Permissions (UPs) online within two and a half months.
In a press release issued by the NBR on Tuesday (March 24), it stated that the automated software ‘CBMS’ was launched on January 1 last year with the aim of providing all services online to bonded warehouse license-holding institutions. Since the beginning of this year, following the mandatory use of the system, all UPs are now being issued online through three Customs Bond Commissionerates. A total of 24,963 UPs have been issued online over the past two and a half months.
It is noteworthy that, with the introduction of the online system, industrial establishments enjoying bonded facilities no longer need to physically visit Customs Bond Commissionerates. They can now apply for and obtain approvals online from home for the use of duty-free imported raw materials.
According to the statement, to facilitate the verification of import-export related documents, API integration between this software and Bangladesh Bank’s online system has also been completed. The NBR believes that this digital service is saving significant time and costs for bonded industrial enterprises. It is also expected to enhance the dynamism of the country’s export trade and create a more investment-friendly environment. To ensure smoother operations, the NBR is regularly coordinating with Bangladesh Bank, DEDO, BGMEA, and BKMEA’s e-UD systems.
As part of efforts to modernize, ensure transparency, and improve efficiency in customs administration, the NBR also stated that all services related to bonded warehouse management, including bond audits, will be gradually brought under full automation to further strengthen trade facilitation.
DBTech/SMEH/MUM/OR
