23 Jan '25
(Fibre2Fashion News Desk (DS): The Bangladesh Bank (BB) recently extended the payment period for imported raw materials for industries, including back-to-back imports, agricultural inputs, and chemical fertilisers, from 180 days to 360 days to conserve dollars and maintain the supply chain.
Insights
The Bangladesh Bank has extended the payment period for imported raw materials for industries, including back-to-back imports, agricultural inputs, and chemical fertilisers, from 180 days to 360 days to conserve dollars and maintain the supply chain.
The provision will remain in effect until December this year.
However, the facility does not apply to imports under Export Development Fund loans.
A central bank circular said the provision will remain in effect until December this year.
However, the facility does not apply to imports under Export Development Fund (EDF) loans.
The central bank had issued a circular on June 30 last year, raising the delayed payment limit for these imports to 360 days, though the validity period lasted until December 31, 2024. Customers cannot extend the payment period for foreign currency liabilities beyond the specified time, domestic media outlets reported. (Source: Fibre2Fashion.com)