BB asks banks to verify commodity prices before import transactions
The central bank has asked commercial banks to verify the latest price of goods in the international markets before initiating import transactions.
The Bangladesh Bank issued a notice in this regard on Monday (10 October).
Given the prevailing global commodity market trends, banks are advised to adhere to regulatory parameters for verification of import prices and price competitiveness, read the central bank notice.
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It also instructed banks to comply with extended due diligence in import transactions and relevant regulations without limiting to provisions of Import Policy Order in force, credit reports of suppliers and other related guidelines.
