BB policy support for exporters extended

DHAKA, Jan 6, 2022 (BSS) – Bangladesh Bank (BB) has extended policy support till June 30 next for external trade transactions considering the pandemic effect on economic activities.

“External trade activities of the country are found changing gears to pick up. To facilitate smooth transition, it has been decided to continue extended supports for trade transactions to June 30,” said a BB circular issued today.

The usance period (allowable period of time, permitted by custom, between the date of the bill and its payment) for imports of industrial raw materials including back to back imports, and imports of agricultural implements and chemical fertilizers under supplier’s or buyer’s credit can be extended up to 270 days. Earlier the BB fixed it 180 days for external trade transactions.

The Export Development Fund (EDF) limit for individual member mills of BTMA and BGMEA will be US$30 million instead of $25 million.

As usual, relevant instructions regarding trade transactions shall remain unchanged.

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