• Wednesday, Feb 19, 2020
  • Last Update : 04:19 pm

BB relaxes cash incentive for apparel, textile exports

  • Published at 10:25 pm January 7th, 2020
web-Bangladesh bank-bb
The Bangladesh Bank building at Motijheel Mehedi Hasan/ Dhaka Tribune

The central bank issued a circular to the authorized dealers of banks in this regard

Bangladesh Bank (BB) on Tuesday relaxed one per cent cash incentive provision for apparel and textile exports. 

The central bank issued a circular to the authorized dealers of banks in this regard.

The circular made current beneficiaries of duty draw-back facility or bonded warehouse facility eligible for the incentive.

Earlier, the BB excluded the beneficiaries from the 1% incentive scheme.

An official of the central bank said that the fall in export earnings in first half of the current fiscal year 2019-2020 prompted the central bank to come up with the fresh relaxation.

The country’s export earnings in the first half of FY20 fell by 5.84% to $19.30 billion from $20.50 billion in the same period of FY19.