Delay in import payment will result in LC restriction: Governor
Bangladesh Bank Governor Dr Ahsan H Mansur has said the central bank will take administrative measures of restricting the opening of Letters of Credits (LCs) if banks are late in making LC payments.
"No bank should withhold dollars and engage in market manipulation…The central bank will take administrative measures if any delay in LC payment is found in the future from now on," the governor said during a meeting with managing directors (MDs) and chief executive officers (CEOs) of 17 banks today (11 November).
The MDs and CEOs of banks, including Sonali, Rupali Agrani, Janata, BRAC, City, Dhaka, Dutch Bangla, Eastern, Pubali, participated in the meeting.
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At the meeting, the governor said the banks have also been instructed to make timely payments of the LCs that have been opened so far.
Central Bank Spokesperson Hosne Ara Shikha told reporters that according to the bank officials, the foreign market will be more stable in January. "It's currently stable, though."
