Bangladesh Bank (BB) relaxed foreign exchange transactions rule for industrial entrepreneurs to help accelerate industry- driven growth.
The central bank in a circular on Sunday said industrial enterprises would get guarantee through authorized dealers (ADs) for borrowing from external sources. The enterprises, however, should have approval from the Board of Investment (BoI), BSS reports.
Earlier in a circular, the central bank advised all ADs to take prior approval from BB to furnish guarantees to or hold collaterals on-behalf of overseas bank branches or correspondents in respect of credit facilities or guarantees to be extended by them or for any other purpose.
“It has now been decided that ADs may, without prior approval of Bangladesh Bank, hold collaterals on behalf of overseas bank branches or correspondents in respect of external borrowing by industrial enterprises as approved by Board of Investment, the BB said.