Banks asked not to harass importers of essential items
Unb, Dhaka
Bangladesh Bank yesterday instructed the commercial banks not to harass importers of essential items by way of asking the source of money the clients pay to open letters of credit (L/Cs)."Bangladesh Bank has given no instructions to the commercial banks to collect information on source of money," said a central bank statement. The statement said it has come to the notice of Bangladesh Bank that the commercial banks were asking their clients (importers) about the source of money when they approach banks to open L/Cs for import of essential items. Consequently, importers are being discouraged to open L/Cs. Bangladesh Bank also raised the problem at a recent meeting of bankers and asked the chief executive officers of commercial banks not to harass the importers. Association of Bankers Bangladesh (ABB) also conveyed the central bank's instruction to the CEOs of all commercial banks through a notification. "Bangladesh Bank thinks the clarification will remove all apprehensions regarding all sorts of transactions, including opening of L/Cs," said the Bangladesh Bank statement.
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