Business

Foreign airlines can buy fuel with local income


Published : 16 Nov 2021 10:22 PM | Updated : 18 Nov 2021 10:33 AM

From now on, foreign airlines operating in the country will be able to buy fuel oil by converting local income into foreign currency.

Bangladesh Bank in a circular on Monday gave this opportunity to foreign airlines. Until now, foreign airlines operating in the country could buy fuel oil from state-owned companies using only local money.

Bangladesh Bank has empowered Authorized Dealer (AD) banks to issue drafts in foreign currency for purchase of oil from state-owned fuel oil companies, the circular said. 

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As a result, AD Bank will be able to issue drafts in foreign currency on behalf of foreign airlines operating in the country. 

In this case the amount of money equivalent for payment can be shown in the reporting statement.

It further said that the price of refined fuel oil in foreign currency can be deposited as foreign currency operated with the permission of Bangladesh Bank.