• Tuesday, Dec 10, 2019
  • Last Update : 12:51 pm

Bangladesh Bank sets 9% interest for onion import

  • Published at 06:36 pm October 2nd, 2019
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The Bangladesh Bank building at Motijheel Mehedi Hasan/ Dhaka Tribune

 Bangladesh Bank has asked banks to finance importing onion with 9% interest for ensuring enough supply of onion in the local market and preventing the upward trend of price

The Bangladesh Bank (BB) has asked all scheduled banks to finance onion imports with 9% interest, aimed at preventing the upward trend of the onion price in the country.

“Recently, it is noticed that the onion price in the local market is upward due to rise in the price in international market. So there is crisis of onion at the consumer level,” a central bank circular mentioned on Wednesday.

Under this circumstance, Bangladesh Bank has asked banks to finance importing onion with 9% interest for ensuring enough supply of onion in the local market and preventing the upward trend of price.

Besides, BB suggested banks to keep the lowest margin for the onion import credit instrument.