Banks can now utilise 40% overseas op fund

The Bangladesh Bank has allowed the Domestic Banking Units (DBU) to collect funds up to 40 per cent from their offshore banking operations to settle the import payment of capital machinery, industrial raw materials and imports by the government.

The regulator issued a notice in this regard on Sunday.

Previously, the banks could collect funds up to 25 per cent of their respective OBU. The central bank also extended the deadline for this facility till June 30 of this year. The banking regulator has taken the decision to ease the pressure on foreign exchange reserves.

The regulator first introduced the facility on July 14 last year, and the facility ended on December 31 last year.