Opening and settling of import letters of credit (LCs) increased by about 25% and 10% respectively in May, compared to the previous month of ongoing FY24 despite the persisting dollar crisis. According to Bangladesh Bank data, new LCs worth $5.33 billion were opened in May, $1.03 billion more than in April. Similarly,
Tag: LC
Rampal’s unit-1 to resume power generation tomorrow
Unit-1 of the 1329MW Rampal Coal-fired power plant will resume production from Wednesday, still under a test run that started in August before being discontinued last month. According to official sources, Unit-1, having 660 MW capacity, was forced to shut down on January 14 due to shortage of coal supply.The
LC opening, settlement fall in July
The country witnessed a decline in both settlement and opening of Letter of Credits (LC) in July by 9.23 percent and 30.20 percent respectively following the government’s import cost containment policy, official sources said. LC settlements were worth $658 crore in July, which was $117 crore, or 9.23 percent, less than
SCB completes country’s first digital cross-border LC
Standard Chartered Bangladesh has completed the transmission of the country’s first ever fully paperless and digital cross-border Letter of Credit (LC), a press release said Tuesday. The first client to complete a fully paperless application for Letter of Credit issuance is Heidelberg Cement Bangladesh Ltd. The transaction was made possible by a