Bangladesh's foreign trade hit by internet outage

Bangladesh has become disconnected from international trade due to internet blackout caused by mob attack on its data centre during the quota-reform protests, reports UNB.
The international trade and remittance flow are totally dependent on internet-based banking service. LC (Letter of Credit) opening for import or export are made through e-mail, which halted due to internet disruption.
Bank officials said that LC opening and required supporting documents for LCs are to be sent to the foreign banks by mail. When the internet gets disrupted the international services including LC opening, remittance receiving get disconnected.
Readymade garment exporters said that the sector suffered a loss of $50 crore in last 3 days.
Bangladesh exports garments worth $16 crore to Europe, America and other countries on an average a day. The businesses of RMG sector have expressed deep concern over the current unrest and urged restoring internet services considering financial loss of the country.
Businesses involved with FBCCI and Bangladesh shop owners association said on an average around Tk6500 crore is being lost due to shutting down shops, transportation and ports.
They also urged the government move quickly for normalisation of all services internet soon.
FBCCI President MahbubulAlam told UNB that all citizen of the country have to prioritise businesses as a large number of people depend on the private sector jobs.
He said the businesses have to pay monthly bills/ rent including salaries, while factories, business establishments and shops cannot pay unless they remain open.