BB relaxes LC rules for Ramadan commodities

Bangladesh Bank (BB) has relaxed rules for import of essential food commodities to ensure adequate supplies during the holy month of Ramadan.
 
Banks will open letters of credit (LCs) for import of items such as rice, wheat, onion, pulse, edible oil, sugar, egg, chickpea, spices and dates based on their relationship with clients, said a BB circular issued on Wednesday.
 
 The central bank suggested banks keep minimum margins or advance on the import value from importers of Ramadan items.
 
 The BB also directed banks to prioritise the settlement of LCs of food commodities.