BSS, Dhaka :
Banks have been asked to check the licences of the importers before opening letters of credit (LCs) in favour of their imports of petroleum.
Bangladesh Bank (BB) in a circular on Monday asked all the authorised dealer (AD) banks to check on whether the private importers obtained licences from the Bangladesh Energy Regulatory Commission (BERC) for petroleum import.
BERC in a letter last September reminded all authorities concerned that the existing regulation prohibits import of petroleum, its stocking, trading and delivery without obtaining licence from the Commission.
The central bank referred to the BERC directive and advised all AD banks to follow it accordingly.
Banks have been asked to check the licences of the importers before opening letters of credit (LCs) in favour of their imports of petroleum.
Bangladesh Bank (BB) in a circular on Monday asked all the authorised dealer (AD) banks to check on whether the private importers obtained licences from the Bangladesh Energy Regulatory Commission (BERC) for petroleum import.
BERC in a letter last September reminded all authorities concerned that the existing regulation prohibits import of petroleum, its stocking, trading and delivery without obtaining licence from the Commission.
The central bank referred to the BERC directive and advised all AD banks to follow it accordingly.
