BB asks banks to take prompt steps to deal with import papers
Published : Wednesday, 22 January, 2020 at 12:00 AM Count : 83
The Bangladesh Bank on Monday asked the scheduled banks to take prompt measures to deal with import documents of 17 essential kitchen market commodities.
The central bank on the day issued a circular in this regard to the banks based on a commerce ministry letter.
The commerce ministry issued a letter to Bangladesh Bank Governor Fazle Kabir as part of its measures to keep the kitchen market stable ahead of Ramadan, the month of fasting for the Muslims. The month of Ramadan will begin in the second half of April.
Monday's BB circular said that the banks and their authorised dealers must facilitate smooth and quick disposal of LC (Letter of Credit) opening and other import-related procedures of 17 essential kitchen commodities upon fulfilment of all procedures required for the foreign exchange transaction.
The essential items are onion, garlic, lentil, chickpeas, dried chillies, cinnamon/cassia, clove, cardamom, seeds of coriander, seeds of cumin, ginger, turmeric, bay leaves, edible soya bean oil, edible palm oil, sugar and edible salt (excluding beet salt).
As demand for the kitchen items increases sharply every year during the month of Ramadan, the commerce ministry issued the letter to the central bank as part of its measures to ensure adequate supply of those items during Ramadan, said officials of the commerce ministry.