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Bangladesh Bank extends facilities for trade transactions

On 6, January 2022, Bangladesh Bank extended facilities for trade transactions upon the plea of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

BKMEA-Bangladesh-Bank-42-months-salary-incentive
Figure: Bangladesh Bank extended facilities for trade transactions upon the plea of the BKMEA.

Bangladesh Bank said in a circular, “Usance period for imports of industrial raw materials including back to back imports, and imports of agricultural implements and chemical fertilizers under supplier’s/buyer’s credit as per paragraph 33(a)(ii) and 33(a)(iv), chapter 7 of the Guidelines for Foreign Exchange Transactions-2018, Vol.-1 may be extended up to 270 days.”

The circular also said, “The Export Development Fund (EDF) limit for individual member mills of BTMA and BGMEA will be USD 30 million instead of USD 25 million. As usual, the extension of EDF loan for a period of 90 days up to 270 days as per paragraph 3 of FE Circular No. 45 of December 31, 2017, shall remain applicable.”

Earlier on 4 January, BKMEA urged the Bangladesh Bank to extend the EDF boundary to be extended to $30 million and other demands.

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