Dhaka, July 2 -- Bangladesh Bank has revised its foreign exchange policy to ease local borrowing for foreign-owned or foreign-controlled companies operating in the country.
In a circular issued by the Foreign Exchange Policy Department on Wednesday, the central bank announced an increase in the allowable debt-equity ratio for such companies from 50:50 to 60:40.
The move is aimed at facilitating access to Taka term loans for capacity expansion or BMRE (Balancing, Modernisation, Rehabilitation and Expansion) purposes.
The updated provision applies to foreign-owned or controlled companies engaged in manufacturing or service output activities in Bangladesh for at least three years.
Bangladesh received $2.7 billion remittances in 29 days o...
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