Bangladesh Bank (BB) on Thursday asked banks to keep the interest rates on the loans used to import onions at maximum 9 percent, reports BSS.
“The prices of onion are on an upward trend at local markets following the price hike of the key cooking ingredient in international markets,” said a BB circular issued on Thursday.
Under the circumstances, BB instructed banks to keep the margins on opening letters of credits (LCs) for importing onions at a minimum level.
The instruction would be effective until December 31 this year.
