BB relaxes LC margin on imports of specific products

The Bangladesh Bank (BB) has directed all banks

to relax the cash margin rate against the opening of import letters of credit
(LCs) for 10 categories of products.

The products include industrial and industry-related spare parts, textile raw
materials, chemical and ancillary products, plastic and packaging item and
raw materials, treatment related equipment, ancillary and reagent, UPS/IPS
machineries and ancillary products and security related products.

The central bank asked all banks to fix the opening margin rate based on
banker-customer relations, as per a BB circular issued here today.

Previously, importers had to pay 75 percent LC margin on imports of those
goods. (BSS)