Banks asked to keep LC margin low

The central bank has instructed the banks concerned to keep LC (letter of credit) margin at a lower level under bank-client relation for import of eight essential items including edible oil, onion, gram, sugar and date to help ease their prices during the holy month of Ramadan.

The Bangladesh Bank issued a circular to this effect on Wednesday.

The central bank issued the directive in order to help ease the import of the key essentials for the sake of smooth supply of the items during the fasting month.

The directive will be effective immediately and will be in force until March 31, 2024, the BB circular said.

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