News update
  • NCP Vows to Contest All 300 Seats in Upcoming Polls     |     
  • Trump's Tariff Hike: How will it affect Bangladesh?     |     
  • Myanmar: UN chief for urgent access as quake toll mounts     |     
  • AI’s $4.8 tn future: UN warns of widening digital divide      |     
  • Volker Turk warns of increasing risk of atrocity crimes in Gaza     |     

Banks must send LC info to BB dashboard within 8 hours

Banking 2024-07-31, 10:39pm

bangladesh-bank-logo-5c171c3941ac41eb056d0b84c7e7dea01722443990.jpg

Bangladesh Bank logo



Dhaka, July 31 - Bangladesh Bank (BB) has directed banks to enter data on the issuance of import LCs and export LCs to the Foreign Exchange Dashboard of the central bank within eight hours of receiving the letter of credit (LC).

The central bank asked banks to enter data on receiving any foreign currency payment for import or proceeds of export products on the dashboard within eight hours, according to a circular issued on Wednesday.

The central bank in the circular said wrong information and delayed reporting on the central bank dashboard of foreign exchange create various problems in maintaining the balance of payment.

The central bank has given this directive to get accurate export and import data information within a short time, it said. - UNB