LCs for luxury and non-essential items

Bangladesh Bank toughens rules further to curb imports

The Bangladesh Bank today asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items, in an effort to keep the foreign exchange reserves stable.

July 6, 2022
July 6, 2022

Bangladesh Bank toughens rules further to curb imports

In an effort to keep the foreign exchange reserves stable, the Bangladesh Bank yesterday asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items. 

July 5, 2022
July 5, 2022

Bangladesh Bank toughens rules further to curb imports

The Bangladesh Bank today asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items, in an effort to keep the foreign exchange reserves stable.