Dhaka, Nov. 8 -- Bangladesh Bank has eased import financing rules for 10 essential commodities ahead of Ramadan, directing banks to require the lowest possible cash deposits when opening letters of credit.

The directive was issued in a circular sent to the chief executives of all banks on Sunday.

It covers imports of rice, wheat, onions, lentils, edible oil, sugar, chickpeas, peas, spices and dates. Banks must set the cash margin rates at the minimum level based on the banker-customer relationship.

The central bank also advised banks to give priority to opening import letters of credit for the items to ensure supplies in the domestic market.

The move follows earlier directives on import financing. A circular issued on Sept 5, 2024 req...