Bangladesh Bank has asked the scheduled banks to let businesses to allow export of their products by submitting export forms and shipping bills if they do not have letters of credit.
To this end, the BB issued a circular to the banks’ head office or principle office of all authorised dealer branches on Tuesday after the government had amended the Export Policy 2012-2015 in the first week of this month.
The Chief Controller of Imports and Exports issued a circular on August 4 saying that the exporters could export their products without LCs but they need to place buying contract, agreement, advance payment, and purchase order.
A BB official told New Age on Wednesday that the exporters would be able to take the facility if they reached an agreement with their importers.
-With New Age input
