Bangladesh Bank discount committee to handle jute goods export claims

A recent government directive permitted authorised dealers (ADs) to submit applications for these claims directly to the central bank’s committee.

These submissions must be routed through the foreign exchange policy department of the bank’s head office and must comply with all standard formalities and procedures, according to domestic media outlets.

This development builds on existing protocols that already allow ADs to submit discount claim applications for shipments of readymade garments and leather goods.

The Bangladesh Jute Mills Association (BJMA) and the Bangladesh Jute Spinners Association (BJSA) will be co-opted as members of the discount committee to ensure industry representation in the decision-making process.

ALCHEMPro News Desk (DS)