BB asks banks to pay import bills on time

The central has asked banks to clear the import bills on time and failing to do so, their authorised dealer (AD) licences for foreign exchange trade will be revoked.

The Bangladesh Bank issued a circular in this regard on Wednesday.

The central bank will also take steps against the bankers concerned for the banks' failure to settle import bills.

The ongoing shortage of the dollar has created a tough situation for some banks in Bangladesh to clear import payments on time, tarnishing the country's image in the international arena, the circular said.