New rules ease Forex transactions

Bangladesh Bank has issued a new circular in order to facilitate foreign exchange dealings. This will consist of guidelines related to loans, overdrafts, and guarantees and will be valid for one year.

This circular, issued on Wednesday (September 2), has three parts related to loans and guarantees, foreign exchange guidelines for specialized economic zone-based firms, and external loans by public and private sector organizations.

The new guidelines will also permit local financing on the basis of guarantees and SBLCs of foreign banks.