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Banks need not to take pre-permission of BB for LCAF

2016-11-06 20:23:22
Banks need not to take pre-permission of BB for LCAF

Thereport24.com Desk:

Banks from now will not need to take any permission beforehand from Bangladesh Bank (BB) for increasing the period of Letter of Credit Authorization Form (LCAF) in case of import of capital machineries.

The approval of Bangladesh Investment Development Authority (BIDA) is enough for increasing the period of LCAF, BSS reports quoting a BB circular issued on Sunday.

Ends/thereport24.com/S/Nov 06, 2016

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