BB extends policy support to all exporters

The central bank has extended its policy support allowing all exporters to realise their export proceeds up to seven months instead of six months considering the ongoing Covid-19 pandemic.

The extended period for realisation of export proceeds will equally be applicable to all sectors, depending on the necessity, until March 31, 2021, according to a notification, issued by the Bangladesh Bank (BB), on Wednesday.

Earlier on July 23, the central bank extended such policy support only to ready-made garment (RMG) and textile good exporters.

Under the relaxation, authorised dealer (AD) banks are empowered to allow all exporters to extend the tenure of realisation of export proceeds up to 210 days instead of 180 days, according to officials.