BB eases LC margin requirements for fertilizer imports

Bangladesh Bank has streamlined import procedures for fertilizers by lowering the Letter of Credit (LC) margin requirements to ensure a steady supply for farmers.

As per a circular issued by Bangladesh Bank on Wednesday (November 13), banks are now allowed to open LCs for fertilizer imports with minimal margins, determined by customer relationships, according to local media reports.

Banks have also been directed to prioritize LCs for fertilizer imports.

This directive is effective immediately and will remain in place until December 31 of next year.