Bangladesh Bank has extended the payment period for imported raw materials and agricultural inputs from 180 days to 360 days.
The central bank issued a circular on Monday to conserve dollars and maintain the supply chain.
The circular said that the delayed payment limit for imports of raw materials for industries, including back-to-back imports, agricultural inputs, and chemical fertilisers, has been extended from 180 days to 360 days.
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As a result, Bangladesh Bank has allowed delayed payments for imports to conserve foreign exchange reserves during the ongoing dollar crisis. This provision will remain in effect until December.
However, the circular specifies that this facility does not apply to imports under Export Development Fund (EDF) loans.
Earlier, the central bank had issued a circular on June 30 last year, which increased the delayed payment limit for these imports to 360 days, though the validity period lasted until December 31, 2024.
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According to the new circular, customers cannot extend the payment period for foreign currency liabilities beyond the specified time.
Industry insiders believe that extending the payment period for imports will provide relief to the foreign exchange market.