BB allows 90-day credit window for imports of essentials prior to Ramadan
According to the circular, importers are now allowed to import rice, wheat, onion, pulse, edible oil, sugar, chickpea, pea, spices, and dates under supplier’s or buyer’s credit arrangements with a usance period of up to 90 days
In a move aimed at stabilising the domestic market and ensuring adequate supply of key food items during the month of Ramadan, Bangladesh Bank issued a circular yesterday (12 November) permitting the commercial imports of several essential commodities on deferred payment terms.
According to the circular, importers are now allowed to import rice, wheat, onion, pulse, edible oil, sugar, chickpea, pea, spices, and dates under supplier's or buyer's credit arrangements with a usance period of up to 90 days.
The central bank stated that this facility will remain valid until 31 March 2026, providing flexibility to importers in managing their payment obligations.
Keep updated, follow The Business Standard's Google news channel
Earlier, Bangladesh Bank also allowed flexibility in determining LC margins for these same essential commodities based on banker–customer relationships.
