The Presidents/Chief Executive Officers,

All Banks

Dear Sir / Madam,

MARGIN RESTRICTION ON IMPORT OF ITEMS

1. Please refer to BPRD Circular No. 02 of 2017, BPRD Circular No. 5 of 2018 and subsequent instructions on the captioned subject.
2. In this regard, it has been decided to withdraw existing Cash Margin Requirement (CMR) on import of items with effect from March 31, 2023.
3. Accordingly, CMR instructions issued vide BPRD Circular No. 02 of 2017, BPRD Circular No. 05 of 2018, BPRD Circular Letter No. 30 of 2021, BPRD Circular Letter No. 09 of 2022, BPRD Circular Letter No. 25 of 2022 and BPRD Circular Letter No. 37 of 2022 would stand withdrawn with effect from March 31, 2023.
4. Please acknowledge receipt.