BB doubles advance payment limits against imports to simplify transactions
The central bank said all other instructions in this regard shall remain unchanged.
File photo of Bangladesh Bank. Photo: Mehedi Hasan/TBS
Bangladesh Bank has doubled the ceiling for advance import payments, aiming to ease trade transactions.
"To further simplify trade transactions, it has been decided to enhance the aforesaid limits to $20,000 and $50,000, respectively," said a BB circular issued today (23 September).
Previously, the central bank allowed advance payment of up to $10,000 or equivalent without a repayment guarantee. In addition, an advance payment of up to $25,000 was permissible from Exporters' Retention Quota (ERQ) accounts.
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The central bank said all other instructions in this regard shall remain unchanged.
