Shinepukur Allowed LC Relief Through End of 2027

Bangla Press Desk: Bangladesh Bank (BB) has exempted Shinepukur Ceramics Limited from a specific restrictive provision allowing the company to open Letters of Credit (LC) with a 100% margin through Sonali Bank PLC to import essential raw materials.

The central bank issued an official directive on Tuesday (14 July), signed by Deputy Governor Dr Md Kabir Ahmed and circulated by Director Md Bayazid Sarker of the Banking Regulation and Policy Department-2, notifying the top executives of all scheduled banks across the country.

Bangladesh Bank declared that the restrictions under Section 27 Ka(3) of the same act will remain suspended for Shinepukur Ceramics Limited until 31 December, 2027.

The central bank noted that the special regulatory waiver has been granted strictly on humanitarian and economic grounds to ensure the continuity of the factory’s industrial production and to protect the employment of its massive workforce.