The central bank in a circular asked banks not to open L/Cs for products barred entry through the country’s land ports
Bangladesh Bank has imposed strict regulatory measures on banks to open letters of credit (L/Cs) for land ports.
On Sunday, the central bank in a circular asked banks not to open L/Cs for products barred entry through the country’s land ports.
The circular read that in recent times, various commodities beyond the list of the National Board of Revenue have been imported into the country through land ports.
Major approved items for the land ports include fish, cotton, powder milk and potatoes, duplex board, newsprint, craft paper and all kinds of paper, including cigarette paper, paper board, chemical fertilizers, china clay, wood, timber, limestone, onion, chilly, garlic, ginger, quartz, rice, eggplants, corn, various types of camels, poultry feed, railway cobblers, etc.
In another circular, the central bank citing an official instruction of the Kingdom of Saudi Arabia, said that incoming and outgoing travelers to the kingdom have to make a declaration at immigration points in case they posses 60,000 Saudi Riyals in cash, or jewelry, equivalent to the amount.