Bangladesh Bank (BB) has directed commercial banks to open letters of credit (LC) at a minimum margin against the import of eight items widely used during the holy month of Ramadan.
The items are edible oil, chickpeas, pulses, peas, onions, spices, sugar and dates.
The decision was taken to ensure price control and supply of daily necessities during Ramadan, said a circular issued by the central bank on Sunday (December 11)
According to the directive of Bangladesh Bank, the rate of cash margin to be reserved in the establishment of import letters of credit (LC) of products to ensure adequate supply including keeping prices a minimum stage of edible oil, chickpeas, pulses, peas, onions, spices, sugar and dates at a tolerable level during the upcoming holy month of Ramadan is based on banker-customer relationship.
This directive will be effective immediately and shall remain in force until further orders.
