Banks asked not to seek cash incentive for non-listed export items

Posted by BankInfo on Wed, Dec 09 2015 02:16 pm

Bangladesh Bank on Tuesday asked scheduled banks not to submit any recommendation before the central bank to provide cash incentive for exported items of the businesspeople avoiding central bank’s rules and regulations. The BB issued a circular to authorised dealer branches in this regard saying that a number of banks were now frequently submitting applications to seek special consideration from the central bank to provide cash incentive to the exporters violating the central bank’s rules and regulations. The BB asked the banks not to submit such type of applications to enjoy the cash incentive following the central bank’s circular. A BB official told New Age on Tuesday that the central bank would not accept any application to provide the cash incentive to the exporters. The government earlier announced to give cash incentive for 14 items of exported products for the financial year 2015-16. The major exported items that enjoy the cash incentive are: apparel products, bone dust, shrimp, frozen fish, finished jute goods, handmade products from hogla, hay and sugarcane fibre, halal meat, potato and pet bottle-flex. 

News:New Age/9-Dec-2015
Posted in Banking, News

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