New facility for vehicle import 

The Bangladesh Bank has given new instructions providing margin facility for opening LC or letter of credit to import vehicles. 

It has been directed to save cash margin on the basis of banker-customer relationship for the import of fuel-efficient and environment-friendly vehicles.

A minimum of 50 percent cash margin must be reserved for the import of sedan cars, SUVs, and MPV cars.

Earlier, 100 percent cash margin had to be reserved for the import of these cars. The new instructions will be effective from February 1. 

The Banking Regulation and Policy Department of the central bank issued a circular in this regard on Thursday (January 2).