Staff Reporter :
The rice importers will be able to import rice even if there is no money in the bank accounts with a view to stabilizing rice price and its increase supply in the local markets.
The decision was taken to ensure rice supply to local markets in the aftermath of crop losses in recent flash-floods, according to a circular issued by Bangladesh Bank on Monday.
The rice importers will be able to enjoy this facility until December 31, added the BB notification.
The central bank has instructed banks to allow private traders to import rice without any deposit against letters of credit or LC margin. It will allow the traders to import rice first and make the payments afterwards. The recent disruption of rice due to the flood in haor areas, including the excessive rainfall in different parts of the country, has led to instability in the rice market, it added.
Bangladesh Bank has advised to ensure supply of rice in the market as essential items.
