BB relaxes LC margin for fertiliser import

Bangladesh Bank has simplified import procedures for fertilisers by reducing the Letter of Credit (LC) margin requirements, aiming to secure consistent supply for farmers.

According to a circular issued by Bangladesh Bank (BB) on Wednesday (November 13), banks are now permitted to open LCs for fertiliser imports with a minimal margin based on customer relationships, according to local media reports. 

Banks have also been instructed to prioritise LCs for fertiliser imports.

The directive takes effect immediately and will remain in effect until December 31 next year.