Bangladesh Bank has relaxed import requirements for 11 essential commodities, including dates, chickpeas, rice, lentils and edible oil, to ensure adequate supplies and keep prices affordable during the upcoming Ramadan.
Under the new directive, importers will no longer be required to maintain a 100 per cent cash margin when opening letters of credit (LCs) for these commodities. Instead, banks have been instructed to keep the margin at the minimum level based on banker-customer relationships.
The central bank issued a circular on Sunday (November 8), sending it to the chief executives of all scheduled banks.
According to the circular, the existing requirement for a 100 per cent cash margin on LCs for certain consumer goods has been relaxed ahead of Ramadan, when demand for essential commodities usually increases.
Bangladesh Bank said the relaxation would facilitate imports, ensure adequate supplies and help keep market prices at affordable levels.
