BB eases import rules to ensure Ramadan supply

In a move aimed at stabilising the domestic market ahead of Ramadan, the Bangladesh Bank (BB) has allowed the commercial import of key food commodities under deferred payment terms.
The measure seeks to ensure an adequate supply of essentials such as rice, wheat, onions, pulses, edible oil, sugar, chickpeas, peas, spices and dates during the fasting month, when demand traditionally surges.
According to a notification issued by the central bank on Wednesday, importers may now open letters of credit (LCs) under supplier's or buyer's credit arrangements with a usance period of up to 90 days.
The facility, which will remain in effect until March 31, 2026, is expected to give importers greater flexibility in managing payment obligations while maintaining the steady flow of goods into the market.
Officials said the facility will provide importers with flexibility in managing their payment obligations.
"We've relaxed our policy to keep the domestic market stable by ensuring adequate supply of essential food items during the month of Ramadan," a senior BB official told The Financial Express, explaining the main objective of the circular.
Earlier, the central bank also allowed flexibility in determining LC margins for these essential commodities, based on banker-customer relationships, the official added.

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