Usance period on raw material imports extended 360 days
The Bangladesh Bank (BB) has relaxed its foreign exchange regulations, allowing banks to extend the usance period for the import of industrial raw materials.
Foreign Exchange Policy Department of the central bank on Wednesday issued a circular announcing the usance period extension to 360 days from the existing 270 days for imports of industrial raw materials.
This includes back-to-back imports, imports of agricultural implements, and chemical fertilisers under supplier's/buyer's credit.
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Such relaxation will continue until December 30 of this year, according to the notification.
The extended usance period will not be applicable for imports under EDF loans, it added
Earlier this year the usance period for raw material imports was extended to 270 days from 180 days.
