BB relaxes private importers deferred payment rules

The private-sector businesses involving foreign loan or supplier credit would now get deferred payment time limit beyond one year.

“Any eligible importer might submit an application to the BIDA (Bangladesh Investment Development Authority) for extension of usance period or refinancing to be allowed by suppliers or lenders against permissible deferred imports with credit exposure to the importers beyond one year,” as per a Bangladesh Bank (BB) circular issued on Tuesday.

Applications will have to submit to BIDA (formerly Board of Investment) at least one month before maturity of the deferred imports concerned, the circular added.

Earlier, importers used to get such facility up to one year.

Source: BSS