BB asks banks to keep LC margin on onion import at minimum level

Publish: 7:33 PM, September 17, 2020 | Update: 7:33:PM, September 17, 2020

DHAKA, – Bangladesh Bank (BB) has asked banks to keep the margin on the opening of letters of credits (LCs) to import onion at a minimum level.

“The prices of onion are on an upward trend at local markets following the price hike of the key cooking ingredient in international markets,” said a BB circular issued today.

Under the circumstances, BB instructed banks to keep the margins on opening letters of credits (LCs) for importing onions at a minimum level.

The instruction would be effective until December 31 this year.