2024-09-06 18:09:27
Published: 19:47, 5 September 2024
In the context of the unstable global economic situation, Bangladesh Bank has instructed that 100% cash margin should be given in the import of 14 luxury products including gold, cosmetics, processed food, soft drinks, leather products to keep the currency and debt management of Bangladesh more coherent and to reduce the dollar crisis.
On Thursday (September 5), the Banking Regulations and Policy Department of Bangladesh Bank issued instructions in this regard. This directive will be effective from Thursday.
According to the Bangladesh Bank directive, in the context of the global economic instability situation, with the aim of keeping the currency and credit management of the country more integrated, instructions are given regarding the determination of the cash margin rate in the establishment of import credit. A cash margin of 100% shall be maintained in respect of establishment of import credit for luxury goods and domestically manufactured import substitutes.
The products for which 100% cash margin is required on import are – Motor cars, electronics home or office appliances, gold and gold jewellery, precious metals and pearls, ready-made garments, leather goods, jute goods, furniture and decorative items, fruits and flowers, non-cereals. Food i.e. cereal food products, processed food and beverages or canned (can) food, chocolate, biscuits, juice, coffee, soft drinks, alcoholic beverages and tobacco, tobacco products or substitute products.
NF/Rafiq