Settlement of admissible local payments to continue till Sept 30: BB

Bangladesh Bank (BB) has directed banks and Non-Bank Financial Institutions (NBFI) to permit settlement of admissible local payments in foreign exchanges to continue till September 30.

The central bank’s foreign exchange policy department issued a circular in this regard on Wednesday (June 24). The circular was sent to the head offices and principle offices of all Authorized Dealers (AD) in Bangladesh.

ADs are permitted to settle inland LCs through their accounts during the banking operation on a limited scale during general holidays, according to the circular.

The circular further said that this authorization shall also be applicable for transfer of payments locally as per the guidelines for foreign exchange transactions policy.