BRPD Circular Letter No. 22: Rate of Interest on Import Financing of Onion

Ref: BRPD Circular
Department of Banking Regulation and Policy Bangladesh Bank Head Office Dhaka. 02 October 2019 BRPD Circular Letter No. 22 Date: ------------------- 17 Ashwin 1426 Managing Director/Chief Executive All Scheduled Banks operating in Bangladesh. Dear Sir, Regarding the rate of interest on onion import authorization. In recent times, due to the increase in the price of onions in the international market, an upward trend in the price of onions has been observed in the local market. As a result, a shortage of onion supply in the market has been seen by consumers. In this context, to ensure adequate supply of onions, which are a daily necessity, in the local market and to prevent the upward trend in onion prices, the maximum interest rate for onion import authorization has been fixed at 9%. In addition, you are advised to maintain a minimum margin of at least 5% in the case of establishing onion import credit facilities. This directive will remain in force until December 31, 2019. Yours faithfully, (A.K.M. Ehsan) Deputy General Manager Phone: 9530359