BRPD Circular Letter No. 46: L/C Margin for Onion Import

All scheduled banks operating in Bangladesh are advised to maintain the letter of credit (L/C) margin for onion imports at a minimum level. This measure aims to normalize onion supply and stabilize prices in the local market, following recent international price increases. This directive is effective immediately and will remain in force until December 31, 2020.

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Website: www.bb.org.bd
Department of Banking Regulation and Policy
Bangladesh Bank
Head Office
Dhaka.
17 September 2020
BRPD Circular Letter No. 46 Date: ------------------ 02 Ashvin 1427 Managing Director/Chief Executive All Scheduled Banks Operating in Bangladesh. Dear Sir, Subject: Regarding the L/C margin for onion imports. In paragraph no. 03 of BRPD Circular Letter No. 05 dated March 02, 2020, you were advised to keep the L/C margin for imports of certain essential consumer goods, including onions, at a minimum level, which was effective until May 30, 2020.
02. Recently, due to an increase in the price of onions in the international market, an upward trend in onion prices is also being observed in the local market. In this context, with the aim of normalizing the supply of onions in the market and stabilizing prices, you are advised to keep the L/C margin for onion imports at a minimum level.
This directive will be effective immediately and will remain in force until December 31, 2020. This directive is issued under the powers conferred by Section 45 of the Bank Company Act, 1991. Yours faithfully, (Md. Nazrul Islam) General Manager Phone: 9530252

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Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works