The central bank has also allowed the import of these commodities under supplier credit and buyer credit. On Wednesday (November 11), the Foreign Exchange Policy Department (FEPD) of Bangladesh Bank issued a circular in this regard and instructed authorized dealer (AD) banks. This special facility will remain effective until March 15.

According to the circular, the facility will be available for the import of rice, wheat and flour, onion, pulses, soybean and palm oil, sugar, chickpeas, peas, spices and dates. These commodities can be imported on deferred payment terms of up to 90 days—that is, traders will have the opportunity to pay the price within the stipulated period after importing the goods.

In the case of supplier credit, foreign suppliers supply goods to importers on credit for a specified period; on the other hand, in the case of buyer credit, foreign banks or financial institutions finance payment for the importer's goods, and later the importer repays the money at the specified time. This facility will create an opportunity to bring goods into the country and market them without immediately arranging the full amount for imports, which may somewhat reduce the financing pressure on import operations. The circular has asked all authorized dealer banks in the country to inform their customers and importers about the matter; other previous relevant instructions will remain unchanged.