Bangladesh Bank asks banks to keep LC margin on onion import within 9pc

BSS

17th September, 2020 03:45:07 printer

Bangladesh Bank asks banks to keep LC margin on onion import within 9pc

Bangladesh Bank (BB) today asked banks to keep the interest rates on the loans used to import onions at maximum 9 percent.

“The prices of onion are on an upward trend at local markets following the price hike of the key cooking ingredient in international markets,” said a BB circular issued today.

Under the circumstances, BB instructed banks to keep the margins on opening letters of credits (LCs) for importing onions at a minimum level.

The instruction would be effective until December 31 this year.


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