Bangladesh leather footwear exporters can apply for over 5% discount

18 Jul '23

1 min read

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Bangladesh leather footwear exporters can now apply to the central bank's discount committee for over 5 per cent discount, according to a circular issued by the bank's foreign exchange policy department.
The decision will help exporters offset the loss of export proceeds incurred by offering additional buyers discounts of more than 5 per cent.

Leather footwear exporters in Bangladesh can now apply to the discount committee of the central bank for over 5 per cent discount, according to a circular issued by the foreign exchange policy department of the Bangladesh Bank.

The decision will help exporters offset the loss of export proceeds incurred by offering buyers discounts of more than 5 per cent prescribed in the guidelines for foreign exchange transactions.

All cases involving discount claims made by buyers due to document discrepancies, short shipment, conservative arrest or quality issues concerning the shipment of readymade garments, leather and leather goods should be forwarded to the discount committee for review, a top financial newspaper reported.

Leather footwear exporters could not offer additional discounts to their foreign customers earlier. However, the new guidelines allow this.

ALCHEMPro News Desk (DS)

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