DHAKA, Jan 08, 2025 (BSS) – The Bangladesh Bank (BB) has announced a relaxation for banks to issue payment guarantees for power and energy imports.
 
“To facilitate import of emergency goods or services by the government competent authorities/entities under power and energy sector, it has been decided that Authorized Dealers (ADs) may furnish bank guarantee to Standby Letter of Credit in favour of foreign suppliers as payment security on behalf of importers subject to approval of the concerned ministry.

While issuing guarantees to standby Letters of Credit, ADs shall ensure that the underlying import transaction will be executed under sales purchase contracts,” said a BB circular issued today.
 
All other relevant instructions on import trade will remain unchanged, the circular added.