Opening L/C and L/C Margin for importing essential consumer goods on the occasion of Holy Ramadan

Bangladesh BankHead OfficeMotijheel, Dhaka-1000Bangladesh.Website: www.bb.org.bdBanking Regulation and Policy Department17 January 2024BRPD Circular Letter No. 05 Date: -------------------03 Magh 1430Managing Director/Chief Executive OfficerAll Scheduled Banks Operating in BangladeshDear Sir,Regarding opening import L/C and maintaining cash margin for essential consumer goods on the occasion of Holy RamadanYour attention is drawn to BRPD Circular Letter No. 49 dated 11 December 2022 on the above subject.2. Through the aforementioned circular letter, instructions were provided regarding the determination of the cash margin rate to be maintained for opening import L/Cs for certain essential consumer goods during the Ramadan month of the previous year. Now, in view of the increased demand for such consumer goods on the occasion of the upcoming Holy Ramadan month, to facilitate the import of these goods, keep prices at a tolerable level, and ensure necessary supply, instructions are hereby given to keep the cash margin rate for opening import L/Cs for edible oil, chickpeas, pulses, peas, onions, spices, sugar, and dates at a minimum level based on the banker-customer relationship.3. Furthermore, it is advised to give priority to opening import L/Cs to ensure the supply of the aforementioned goods in the domestic market.4. This instruction is issued under the powers conferred by Section 45 of the Bank Company Act, 1991.5. This instruction will be effective immediately and remain in force until 31 March 2024.Yours faithfully,(Mohammad Shahriar Siddique)Director (BRPD)Phone: 9530252