Economic Reporter :
Bangladesh Bank (BB) has enhanced the usance period up to 360 days from 180 days for import of agricultural implements and chemical fertilizers for minimizing the COVID-19 pandemic related disruptions.
“Authorized Dealers (ADs) may extend the usance periods up to a maximum of 360 days against imports of agricultural implements and chemical fertilizers from 180 days,” according to a BB circular issued on Sunday.
Other instructions in this regard will remain unchanged, the circular added.
The central bank has also asked banks to facilitate import of essential commodities, food items and electronic goods to keep the supply chain running amid shutdown.
The authorised dealer banks, engaged in foreign exchange transactions, would come forward to release documents for the speedy release of imported goods while following rules.
Also, commercial banks have been asked to provide necessary banking services to the importers during this crisis period.
On April 22, the Ministry of Commerce instructed all the authorities to step up to help continue production, transport and supply of electronics goods, essential commodities and food items including rice, pulses, oil, onion, salt, sugar, ginger, garlic, water, baby food; and all types of medical supplies such as masks and hand sanitisers.
Bangladesh Bank (BB) has enhanced the usance period up to 360 days from 180 days for import of agricultural implements and chemical fertilizers for minimizing the COVID-19 pandemic related disruptions.
“Authorized Dealers (ADs) may extend the usance periods up to a maximum of 360 days against imports of agricultural implements and chemical fertilizers from 180 days,” according to a BB circular issued on Sunday.
Other instructions in this regard will remain unchanged, the circular added.
The central bank has also asked banks to facilitate import of essential commodities, food items and electronic goods to keep the supply chain running amid shutdown.
The authorised dealer banks, engaged in foreign exchange transactions, would come forward to release documents for the speedy release of imported goods while following rules.
Also, commercial banks have been asked to provide necessary banking services to the importers during this crisis period.
On April 22, the Ministry of Commerce instructed all the authorities to step up to help continue production, transport and supply of electronics goods, essential commodities and food items including rice, pulses, oil, onion, salt, sugar, ginger, garlic, water, baby food; and all types of medical supplies such as masks and hand sanitisers.
