Regulatory Alerts2022-04-26
Added
BRPD Circular Letter No. 12: Policy for Post Import Financing-PIF
The Bangladesh Bank amends specific clauses of the Post Import Financing (PIF) policy to extend maximum tenors for various import categories, including 90 days for essential consumer goods, 120 days for other trading goods, 180 days for agricultural and animal husbandry imports, and 210 days for industrial raw materials. The circular also introduces stricter conditions for granting new PIF facilities to defaulting customers, prohibits PIF against local letters of credit or related-party transactions, and mandates reporting of overdue PIF under CL-3. Additionally, it allows for a single extension of tenor (30 days for consumer/trading goods, 60 days for agriculture/industry) subject to operational management approval and verification of product status.