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Overcoming Covid-19 hurdles

BB relaxes forex rules in export, import

FE REPORT | September 21, 2021 00:00:00

The Bangladesh Bank (BB) has brought relaxation in foreign-exchange regulations in export, import, remittance and other trade services to overcome economic challenges of the Covid-19 pandemic, said BB deputy governor Ahmed Jamal on Monday.

He also said the central bank has taken a number of initiatives in the areas of trade payment and finance to keep the country's economy going throughout the pandemic.

He said these while delivering the chief guest's speech at an online review workshop - 'Trade Services Operations of Banks' - organised by the Bangladesh Institute of Bank Management (BIBM), according to a BIBM press release.

Associate Professor and Director (Training and Certification Programme) of BIBM Mohammed Sohail Mustafa delivered the welcome address at the programme, with Director General of BIBM Dr Md Akhtaruzzaman in the chair.

BIBM Professor (Selection Grade) Dr Shah Md Ahsan Habib presented the keynote paper titled "Trade Services Operations of Banks".

In his speech, Mr Jamal said as part of facilitating businesses, the BB has extended export proceeds realisation time as well as duration for submission of bill entry.

Referring to major regulatory initiatives for smooth operations of trade payment and finance, he also noted that an extension for industrial import was given to the importers for uninterrupted production in industries.

The BIBM director general said findings of the study along with opinions and observations made at the programme would help the BB to take future actions.

Besides, Dr Muzzafer Ahmed Chair Professor of BIBM Dr Barkat-e-Khuda, Supernumerary Professor of BIBM Md Ahsan Ullah, Managing Director and CEO of Trust Bank Limited Humaira Azam, and Additional Managing Director of Islami Bank Limited Md Omar Faruk Khan also spoke at the programme as designated discussants.

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