Opportunity for bill discounting in foreign currency at the bank's AD branch
Offshore Banking Units as well as Foreign Currency Transaction (AD) branches will also be able to discount export bills in foreign currency from domestic sources.
A circular issued by the Foreign Exchange Policy Division of Bangladesh Bank on Sunday said that from now on, the bank's AD branch will be able to discount bills in foreign currency from its own sources. In this case, the bank should have a surplus fund which is not committed to be repaid elsewhere.
In case of discounting this bill, the central bank has asked to follow all the guidelines of the foreign exchange policy of Bangladesh Bank.
Until now, bill discounting could only be done from offshore banking units. The bill discounting process has become complicated due to the recent tightening of offshore banking policies