Bangladesh, Aug. 17 -- Bangladesh Bank has allowed S Alam Group's SS Power-1 to import goods entirely on credit.

The Chattogram-based power producer faces allegations of money laundering and looting bank funds. Under the 100 percent margin facility, state-owned Rupali Bank can fully finance its imports.

The coal-fired plant will no longer have to make any upfront payment to open letters of credit (LCs) to import raw materials.

In a circular issued on Sunday, the central bank said the Bank Company Act would not be applied to SS Power-1 Ltd until December 2027.

After the Awami League government fell in the 2024 mass uprising, Bangladesh Bank took back control of seven commercial banks that had been under S Alam Group's control.

The gr...