The rice importers will be allowed to import rice without making any advance payment for stabilising rice price and increasing supply in the local market.
The rice importers will be given the facilities till December 31 this year, according to a circular of Bangladesh Bank.
The BB issued the circular to all commercial banks advising to open Letter of Credit (LC) with zero margin importing rice to ensure adequate supply in the local market.
The BB circular said, the recent floods in haor areas, excessive rainfall and natural disaster have created instability in the rice market.
The central bank has relaxed the conditions for LC margin to encourage import of rice in the private sector.