Sunday, 29 January, 2023

BB relaxes LC margin for lubricants

  • Staff Correspondent
  • 23 December, 2022 12:00 AM
  • Print news
BB relaxes LC margin for lubricants

Popular News

Bangladesh Bank (BB) has asked all commercial banks to relax the opening margin rate of Letter of Credit (LC) against the import of lubricants to support power generation of the country.

Banking Regulation and Policy Department (BRPD) of the central bank issued a circular in this regard on Thursday.

“Bankers can fix the margin rate based on their relationship with customers bypassing the existing margin rate of 75 percent,” reads the circular signed by BRPD Director Ali Akbar Faraji.

The circular stated that the LC margin can be relaxed for lubricants as well as the goods required for its production to keep the market supply normal, industrial activities running and power generation uninterrupted.