Circulars/Notifications - Banking Supervision Department  
 BPRD Circular Letter No. 15
June 02, 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Subsequently the minimum cash margin restrictions were withdrawn on Industrial Raw Material and Machinery of all kinds and their spare parts in full. Whereas in respect of all other goods, the minimum cash margin restrictions were removed on CKD Kits for tractors for assembly cum-manufacture purposes, Unserviceable vessels used for ship breaking industry for scraping, Medical equipment, life saving devices and various consumables used for patients, Raw material used for printing and graphic arts industry for printing, publishing and packaging and CKD Kits for automobiles manufacturers.

It has now been decided to withdraw the minimum cash margin requirement on import letter of credit of sugar with immediate effect.

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

Please acknowledge receipt.


Yours faithfully,
(KAZI ABDUL MUKTADIR)
Director

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