Imports Now Allowed Without Letters of Credit
Businesses can now import goods without opening letters of credit (LCs), using only purchase agreements. Bangladesh Bank has issued the final guidelines to implement the Import Policy Order 2026–2029.
The central bank’s Foreign Exchange Policy Department-1 issued a circular on Sunday (September 13) and sent it to authorised dealer (AD) banks.
The circular instructed AD banks to strictly follow the Import Policy Order when settling transactions involving imported goods and locally sourced production materials.
It also stated that all goods permitted for import in the industrial and commercial sectors could be brought into the country under purchase agreements, regardless of their value. Importers will also be allowed to make payments through the “open account” system.
Bangladesh Bank said the Import Policy Order would remain effective until December 31. If no new order is issued by then, the existing rules will continue to apply.
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