Ahead of the upcoming Ramadan, Bangladesh Bank has announced a special credit facility allowing importers to defer payments for up to 90 days for 11 essential commodities, aiming to ensure smooth supply and price stability in the market. The central bank issued the directive on Wednesday.

Commodities Covered

According to the directive, importers will be eligible for the deferred payment facility for rice, wheat, onion, pulses, soybean oil, palm oil, sugar, chickpeas, spices, dates, and peas. The facility can be availed under supplier's credit or buyer's credit arrangements.

Central Bank's Rationale

Bangladesh Bank stated that the special facility has been introduced to maintain an adequate supply of essential food items and keep prices within tolerable limits during the holy month of Ramadan. The move is expected to ease the financial burden on importers, enabling them to bring in goods promptly.

Market Management Initiative

The central bank's step is viewed as part of broader market management efforts ahead of Ramadan, when demand for essential commodities typically surges. By facilitating faster imports through credit support, authorities aim to prevent supply shortages and curb price volatility during the period.