Limit for advance import payments raised to $20,000, exporters’ retention quota accounts to $50,000

Bangladesh Bank has increased the limits on advance payments for imports without guarantees and exporters’ retention quota accounts.

In a circular issued on Tuesday, it was stated that importers may now make advance payments of up to USD 20,000 without repayment guarantees.

Previously, this limit was USD 10,000.

The circular mentioned that the initiative has been undertaken to facilitate international trade and make the import process more efficient.

At the same time, the limit for advance payments from exporters’ retention quota accounts has been increased from USD 25,000 to USD 50,000.

Industry-related stakeholders in the country have welcomed this decision. According to them, it will be particularly helpful for small and medium importers.

With the increased limit, importers will be able to make payments more quickly and at a lower cost, reducing both time and additional expenses.

This policy revision is part of initiatives aimed at improving the country’s overall trade efficiency and simplifying trade arrangements in the context of global economic changes.

Analysts believe this step is timely as part of broader policy support.