The Foreign Exchange Policy Department of Bangladesh Bank has allowed the imports of eight food items on usance terms, for up to 90 days under suppliers’ or buyers’ credit. The items are – edible oil, chickpea, pulse, pea, onion, spices, sugar, and dates.
This facility will remain applicable for the initiation of imports till March 31, 2023, read a circular issued on Tuesday.
On Sunday, the Bangladesh Bank had instructed banks to relax the opening margin rate for settlement of Letters of Credit (LC) against these items at the minimum level based on banker-customer relations.
Business leaders hailed the central bank move, as it will allow smooth supply of these items during the holy Ramadan.
