Bangladesh Bank has permitted importers to defer payments for up to 90 days on shipments of 10 essential commodities, aiming to secure adequate supplies and curb price spikes ahead of Ramadan.
The Foreign Exchange Policy Department-1 issued the circular today, expanding earlier provisions to cover rice, wheat (including flour), onion, lentils, edible oil, sugar, chickpeas, peas, spices, and dates.
Importers may bring in these goods under suppliers’ credit or buyers’ credit arrangements and settle the full amount within a maximum of 90 days after the goods arrive in the country.
Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan said the measure is intended to keep prices of high-demand Ramadan items within the reach of ordinary consumers. He noted that banks have been authorized to facilitate the 90-day credit window so importers can arrange supplies in advance.
“Importers will be able to pay for the imported goods after 90 days,” Khan said. He added that the central bank does not want consumers to face extra pressure from rising prices during the holy month and that the circular should help people buy essentials at relatively affordable rates.
Any imbalance between supply and demand can drive prices higher, he explained. Bringing in sufficient quantities ahead of Ramadan should prevent shortages and ease upward pressure on prices.
According to the circular, the facility applies to commercial imports and is designed to maintain normal supplies of essential food items during Ramadan while holding prices at tolerable levels. Importers no longer need to pay the full value immediately and can complete payment within 90 days.
The decision builds on FEPD-1 Circular No. 30 of August 13, which had already allowed deferred-payment imports of certain commodities under Part-D, paragraph 1(1). The latest directive extends the same treatment to additional key food items. All other conditions in the earlier circular remain unchanged.
Authorized dealer banks have been instructed to inform their clients of the new facility.