FOREIGN SUPPLIER’S CREDIT REPORTS
BB ups invoice limit of ADs
Bangladesh Bank has increased the invoice limit for the authorised dealer branches of scheduled banks to collect the credit reports of foreign suppliers.
The BB on July 3 issued a circular to all the authorised dealer branches of the banks saying that it had been decided that the ADs should collect confidential credit reports of the exporters that would supply products to the country in all cases where the letters of credit or contract exceeds $10,000 or Tk 7.80 lakh ($1= Tk78) instead of Tk 5 lakh.
The invoice limit is $20,000 or Tk15.60 lakh instead of 10 lakh for the foreign suppliers of local agents.
A BB official told New Age on Thursday that the ADs collected the credit reports from their counterpart banks in foreign countries.
The BB has decided that such credit report might be obtained from any international reputed credit rating agencies acceptable to ADs, the circular said.
Head offices or principle offices of all ADs shall maintain a central database of collected credit reports, the BB said.
-With New Age input
