The Bangladesh Bank has instructed banks to ensure a smooth letter of credit (LC) opening process to better facilitate the imports of essential commodities ahead of the upcoming Ramadan, a month of self-restraint.
This directive came at a bankers’ meeting held at the central bank headquarters on Sunday.
Bangladesh Bank Governor Abdur Rouf Talukder presided over the meeting. Association of Bankers, Bangladesh (ABB) leaders and other senior officials of the central bank were present there as well.
After the meeting, the central bank’s new Executive Director and spokesperson Mezbaul Haque told reporters, “The regulator has instructed banks to open letters of credit as per the requirement ahead of Ramadan.”
The Managing Directors of the City Bank, Trust Bank, Dhaka Bank, Meghna Bank, National Bank, Janata Bank, Islami Bank and others were present in the meeting.
