BB relaxes LC margin on imports

The Bangladesh Bank (BB) has directed all banks to relax the cash margin rate against the opening of import letters of credit (LCs) for 10 categories of products.

The products include industrial and industry-related spare parts, textile raw materials, chemical and ancillary products, plastic and packaging item and raw materials, treatment related equipment, ancillary and reagent, UPS/IPS machineries and ancillary products and security related products.

The central bank asked all banks to fix the opening margin rate based on banker-customer relations, as per a BB circular issued here today.

Previously, importers had to pay 75 percent LC margin on imports of those

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