Bangladesh's importers allowed to extend guarantees to foreign lenders

The total value of import letters of credit (LCs) opened by authorised dealer banks between July 2021 and May 2022 was 43.10 per cent higher than that of the same period of the previous year.

Import LCs were worth $84,852.07 million during this period and $59,297.49 million during the same period the previous year, said a press release from the central bank.

The value of LCs settled during July 2021-May 2022 totalled $75,133.30 million—47.59 per cent higher than that of the same period of the previous year ($50,907.04 million), Bangladeshi media reported.

ALCHEMPro News Desk (DS)