The central bank yesterday asked all commercial banks to pay import bills in time. The banks will be fined if they fail to do so, Bangladesh Bank said in a notice.
There have been complaints that some banks are making unwanted delay in paying bills against letters of credit, which is tarnishing the image of the country's banking system, the BB said.
The interest imposed on unpaid bills and the confirmation charges of the foreign banks go up due to the delay, making imports costlier.
“An increase in import costs due to such irregularities has a direct adverse impact on the prices of essential commodities and hampers public interest,” the BB notice said.

News:The Daily Star/13-Mar-2014