Bangladesh Bank Doubles Advance Payment Limit for Imports

Staff Reporter | PNN:
To facilitate international trade and make the import process more efficient, Bangladesh Bank has doubled the limit for advance payments in imports. The central bank issued a circular on Tuesday, 23 September, regarding this new policy.

Under the new guideline, importers can now make advance payments of up to $20,000 without a repayment guarantee. Previously, the limit was $10,000.

At the same time, for exporters, the advance payment limit from retention quota has been increased from $25,000 to $50,000.

Bangladesh Bank stated that this decision will make financial transactions easier and more cost-effective for importers, saving both time and additional expenses.

Analysts believe that in the context of global economic changes, this policy adjustment is timely and will have a positive impact on the country’s commercial efficiency.