Circulars/Notifications - Banking Supervision Department  
 BPRD Circular Letter No. 07
March 10, 2000  

All Banks,

Dear Sirs,

MINIMUM MARGIN RESTRICTION ON IMPORT LETTER OF CREDIT

Please refer to instructions contained in BPRD Circular No.33 dated the 14th October, 1999 in terms of which minimum cash margin restriction was imposed on all import letters of credit except items indicated in the Annexure to the said circular. A 10% cash margin requirement had been imposed on import letter of credit for import of industrial raw materials and 20% on machinery of all kinds and spare parts, whereas all other goods, except those indicated in the Annexure were subject to a 35% cash margin requirement. Subsequently the minimum cash margin restriction on Industrial Raw Material and Machinery of all kinds and their spare parts was withdrawn vide BPRD Circular No.37 and 38 dated the 27th and 30th October, 1999 respectively.

It has now been decided to withdraw with immediate effect the minimum cash margin requirement on import letter of credit of CKD Kits for tractors for assembly-cum-manufacture purposes only.

All other instructions on the subject shall, however, remain unchanged.

Please acknowledge receipt.


 
Yours faithfully,
(KAZI ABDUL MUKTADIR)
Director

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