The Bangladesh Bank has extended the usance period to 360 days from 180 days for imports of industrial raw materials including back-to-back imports, imports of agricultural implements and chemical fertilisers under supplier’s or buyer’s credit.
In a circular issued Wednesday, the central bank's Foreign Exchange Policy Department also said that the extention would be effective till December 31, 2022.
According to the circular, the extended usance period will not be applicable for imports under EDF loans.
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In another circular, interest on EDF loans has been enhanced to 3 per cent from 2 per cent.
Business insiders hailed the extension of usance period against imports. Enhancement of interest on EDF loans will bring buyer’s credit market competitive, a senior banker commented.
