Online Report<\/p>\n
<\/p>\n
The Bangladesh Bank has clarified that commercial banks will not bear any financial liability in the case of contract-based imports, in a move aimed at streamlining import procedures and encouraging greater engagement from banks.
\nFE<\/p>\n
In a circular issued on Tuesday, the central bank said importers should not be restricted from executing import transactions solely on the basis of sales contracts, UNB reports.<\/p>\n
The directive comes in response to banks\u2019 longstanding reluctance to handle such transactions, stemming from the misconception that contract-based imports placed the financial burden on them.<\/p>\n
The circular explicitly clarifies that banks will be responsible only for managing payment procedures using funds provided by the importers themselves and thereby absolving them of any financial risk.<\/p>\n
Insiders see this clarification as a major policy shift, correcting confusion caused by a 2022 circular that led banks to reject contract-based import payments and disrupted import flows.<\/p>\n
Industry stakeholders believe the latest move will bolster confidence among banks, simplify import operations, and facilitate a smoother flow of foreign trade.<\/p>\n
\u201cThis is a timely decision. By clearly stating that banks have no financial liability, it will help reduce import costs and foster a more conducive business environment,\u201d said one importer.<\/p>\n","protected":false},"excerpt":{"rendered":"
Online Report The Bangladesh Bank has clarified that commercial banks will not bear any financial liability in the case of contract-based imports, in a move aimed at streamlining import procedures and encouraging greater engagement from banks. FE In a circular issued on Tuesday, the central bank said importers should not be restricted from executing […]<\/p>\n","protected":false},"author":1,"featured_media":61904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,14],"tags":[],"class_list":["post-61903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-6","category-14"],"_links":{"self":[{"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/posts\/61903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61903"}],"version-history":[{"count":1,"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/posts\/61903\/revisions"}],"predecessor-version":[{"id":61905,"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/posts\/61903\/revisions\/61905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=\/wp\/v2\/media\/61904"}],"wp:attachment":[{"href":"https:\/\/deshnews24.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/deshnews24.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}