Circulars/Notifications - Banking Supervision Department  
 BPRD Circular Letter No. 09
April 13, 2000  

All Banks,

Dear Sirs,

MINIMUM MARGIN RESTRICTION ON IMPORT LETTERS 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 Subsequently minimum cash margin restrictions were withdrawn on industrial Raw Material vide BPRD Circular No.37, dated the 27th October, 1999, on Machinery of all kinds and their spare parts vide BPRD Circular No. 38 dated 30th October, 1999 and on CKD Kits for tractors for assembly-cum-manufacture purposes only vide BPRD Circular Letter No.07 dated the l0th March, 2000.

It has now been decided to withdraw with immediate effect the minimum margin requirement on the following items: -

1. Unserviceable vessels used by ship breaking industry for scrapping.
2. Medical equipment, life saving devices and various consumables used for patients.
3. Raw material used for Printing and Graphic Arts industry for printing, publishing and packaging.

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

Please acknowledge receipt.


Yours faithfully,
(KAZI ABDUL MUKTADIR)
Director

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