Errant banks to face the music for import payment delay
Dhaka, Bangladesh, Jan. 30 -- The central bank of Bangladesh will take stringent action against the authorised dealer banks who sidestep making import payment obligations.
The warning of the Bangladesh Bank (BB), the country's central bank, came in a notice issued on Wednesday.
The BB asked all AD banks to comply with the existing foreign exchange rules and regulations on import payment liabilities properly.
Talking to the BBN, a BB senior official said the central bank may suspend operations of foreign exchange or revoke AD licence of the branches concerned as part of its action.
The central bank issued the warning after receiving noticed allegations of import payment delay, he added.
He also said the BB is also empowered to penalis...
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