Foreign firms, JVs in EZs get permission to take loans in taka
Dhaka, Nov. 28 -- Bangladesh Bank (BB) has allowed foreign firms and joint ventures (JVs) located in the economic zones (EZs) to take working capital loans in taka from the domestic banking system for their operations catering for the local market.
"Industrial enterprises operating in the domestic processing areas of the economic zones do not have sources of income in foreign currencies. To facilitate the business, the central bank issued a circular in October 2020, allowing them to execute transactions in the taka without export/import procedures and remit the payment on account of royalty, technical know-how and technical assistance fees from their taka accounts respectively," as per a BB circular issued on Monday.
To further meet the...
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