BB asks banks to relax LC margin rate for Ramadan items

Bangladesh Bank (BB) has instructed banks to relax the opening margin rate for the settlement of Letter of Credit (LC) against eight food items at the minimum level based on banker-customer relations.

The central bank has given the instruction to keep the prices tolerable and ensure adequate supply during the month of Ramadan, as per a BB circular issued on Sunday.

The food items are edible oil, sugar, chickpeas, pulses, beans, onions, dates and spices. 

The central bank fixed the opening margin rate for the settlement of letters of credit at 75 per cent in a bid to limit imports to save the depleting reserves of foreign currency.

Source: BSS