Dhaka, Aug. 16 -- Bangladesh Bank (BB) has removed the mandatory 100 percent cash margin requirement for opening letters of credit (LCs) to import fruits, allowing scheduled banks to set the rate based on their banker-customer relationship.

Banking Regulation and Policy Department (BRPD) of the central bank issued a circular on Sunday (August 16), instructing the managing directors and chief executives of all scheduled banks to implement the decision immediately.

Previously, under BRPD Circular Letter No. 41 issued on September 5, 2024, Bangladesh Bank imposed a mandatory 100 percent cash margin on luxury items and locally produced import-substitute goods-which included fruits-to manage foreign exchange reserves amid global economic vol...