The Bangladesh Bank on Sunday (Dec 11) asked scheduled banks to charge margins at a minimum rate against opening of import letters of credit (L/C) for essential kitchen commodities ahead of the month of Ramadan.

A circular was issued by the central bank in this regard to prevent price hikes and to keep the kitchen market stable ahead of Ramadan, the month of fasting for Muslims.

The central bank asked the banks to keep minimum margins against LCs opened for importing commodities, including edible oil, chickpeas, peas, pulse, spices, dates, fruits and sugar.

According to the circular, the cash margin rate should be brought down to the minimum level based on the bank-customer relationship in order to increase the supply of products in the market and the prices are bearable ahead of Eid. 

The instruction came into force immediately after issuance of the circular and will remain valid until further instruction comes, the BB said

BDST: 1715 HRS, DEC 11, 2022
MSK/SMS