Check BERC certificate before L/C opening for petroleum product import: BB

Bangladesh Bank (BB) on Tuesday made it mandatory for banks to examine the BERC certificates while allowing private importers to open letters of credit (L/Cs) for petroleum import. The BB in a circular, issued by its Foreign Currency Policy Department, said as per the Import Policy Order 2012-15, it is mandatory for private importers to obtain certificates from the Bangladesh Energy Regulatory Commission (BERC) to import any petroleum product, according to a news agency.