Dhaka, Oct. 29 -- Bangladesh Bank (BB) has relaxed regulations governing power-import payments, allowing authorised dealer banks to make outward remittances for electricity purchases under government-approved cross-border arrangements without obtaining prior approval for each case from the central bank.

In a circular issued on Tuesday by its Foreign Exchange Policy Department (FEPD), the central bank said the move aims to streamline and facilitate smooth payment settlements for power imports transmitted through the national grid under bilateral agreements approved by the government.

Under the new directive, banks are permitted to remit funds to foreign beneficiaries for electricity purchases from abroad, subject to several conditions. ...