Rate of Interest on Import Financing of Onion

website: www.bb.org.bd Banking Regulation & Policy Department Bangladesh Bank Head Office Dhaka August 27, 2015 BRPD Circular Letter No. 09 Date: ------------------- Vadro 12, 1422 Managing Director/Chief Executive All Scheduled Banks in Bangladesh Dear Sir, Rate of Interest on Import Financing of Onion It has been noticed that the onion price in the local market is increasing due to recent price hike in the international market. As a result, the supply of onion has fallen short in the market at the consumers’ level. At this situation, considering onion as an essential commodity the rate of interest on import financing of onion is fixed at maximum 11% to ensure adequate supply of onion and restrain the price hike in the local market. Besides, banks are advised to keep the rate of margin at minimum level while opening letter of credit for onion import. This instruction will remain valid till December 30, 2015. Sincerely yours, (Chowdhury Md. Feroz Bin Alam) General Manager Phone: 9530252