Dhaka, Dec. 10 -- Bangladesh Bank now allows capital machinery import in foreign credit without permission from the Bangladesh Investment Development Authority (BIDA).

Companies can now directly import necessary machinery and equipment using foreign loans with a minimum three-year term, without needing prior approval from the BIDA.

The Foreign Exchange Policy Department of Bangladesh Bank issued the directive on Wednesday (December 10). Industry stakeholders believe this new initiative will significantly ease the import process for the industrial sector.

The directive states that this industry-friendly measure was introduced as part of implementing the decision of BIDA's foreign debt committee.

Previously, the long-term credit facilit...