The Bangladesh Bank has instructed banks to strengthen their monitoring on export-related trade activities to check under invoicing, after noticing that a rising number of export proceeds are not being repatriated.
Besides, the regulator has also decided to introduce a short term moving average rate in lending after the next monetary policy in July this year, instead of the single digit lending rate. Excluding consumer loans and credit cards, the highest lending rate is currently 9 per cent.
The decisions came up from the bankers meeting on Sunday at the central bank headquarters.
Central bank governor Abdur Rouf Talukder presided over the meeting, attended by chief executives of most banks were.
After the meeting, the central bank Executive Director and spokesperson Md Mezbaul Haque told reporters that the banking regulator is now going to monitor export related trade activities, and banks have been asked to strengthen their monitoring as well.
