Bangladesh Bank on Monday asked banks to verify the price of commodities, quoted by importers, in the global market.
“Given the prevailing global commodity market trends, Authorized Dealers (ADs) are advised to adhere to regulatory parameters for verification of import prices and price competitiveness,” read a Bangladesh Bank circular.
“As usual, ADs shall comply with extended due diligence in import transactions and relevant regulations without limiting to provisions of Import Policy Order in force, credit reports of suppliers, KYC and AML/CFT standards, and so on,” the release added.
