BB eases rules for capital goods imports with 3-year usance facility
The Bangladesh Bank has eased procedures allowing industrial importers to bring in capital goods on a usance term of up to three years without requiring prior approval from the Bangladesh Investment Development Authority (Bida).
Previously, this facility was limited only to the import of capital machinery. Under the new instruction, importers can now import both capital machinery and capital goods on the same three-year usance term, a senior central bank official told The Business Standard.
The central bank issued a circular on 10 December, referencing the decision of the 186th meeting of Bida's Scrutiny Committee on Foreign Loan or Supplier's Credit, chaired by the governor of Bangladesh Bank.
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The move aims to simplify access to import financing for industries requiring long-term capital goods.
A senior official said BIDA made the decision and Bangladesh Bank has already communicated the instructions to commercial banks.
He explained that companies often require a wide range of long-term assets, such as air conditioners and other equipment, when launching operations, and the new policy will now support such needs.
Industry insiders noted that the decision removes procedural hurdles and will enable businesses to import capital goods, including ships and various industrial equipment, on usance terms of up to three years.
They added that the policy shift is expected to significantly improve investment planning and support capacity expansion across key productive sectors.
