BB starts talks with banks on boosting imports today

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FE Report
The Bangladesh Bank (BB) will start holding consultations with commercial banks and local trade bodies from today (Sunday) on how to boost imports through encouragement.
The central bank earlier asked its seven branch offices to arrange such meetings to encourage importers, especially small ones, across the country.
Barisal office of the BB is going to hold the first consultation meeting at its office today (Sunday) for seeking all sorts of cooperation from local commercial banks and importers to increase competition in import trade.
The second meeting will be held at the central bank Khulna office Monday aiming to encourage local importers for strengthening their business activities in the country's southwestern region.
The Foreign Exchange Policy Department of the central bank has already assigned its Joint Director Mostafizur Rahman Sarder to attend the meetings.
"We will seek cooperation from local commercial banks and representatives of trade bodies during such meetings for increasing competitiveness in import business through encouraging small importers," a BB senior official told the FE Saturday.
He also said the central bank has taken the move in line with the Chief Adviser's suggestions of raising the number of small importers across the country.
"The branch offices will conclude their meetings by the end of this month," the BB official said, adding that the meetings will be held in the second week of this month in the country's northern region.
Chief Adviser Fakhruddin Ahmed wrote a letter to Bangladesh Bank Governor Salehuddin Ahmed recently in the light of the dialogue held between the senior government officials and business leaders on September 05 last, official sources said.
Fakhruddin Ahmed, who was the immediate past governor of the central bank, also suggested the BB for taking measures to increase competition in import through encouraging smaller importers across the country.
"It may be useful if the BB, commercial banks and trade association representatives work together in Dhaka and other towns, particularly where the BB has branches," the CA said in his letter.