Customers of ten banks in Bangladesh, including seven financial institutions in distress, are facing significant issues with paying customs taxes online and using pay orders for shipping bills. Shipping agents are reluctant to accept pay orders from these banks due to concerns about the ability to cash them, which is disrupting the delivery of goods from the port and causing container congestion. According to a notification from Bangladesh Bank on August 16, several banks have restricted loan disbursements and barred new letters of credit (LC) openings, exacerbating the problem. Despite the notification, shipping lines and CNF agents are not accepting pay orders from these banks, affecting importers’ ability to clear goods and increasing port congestion. The shipping lines and agents are calling for clear government guidelines to address the situation and restore confidence in these banks’ pay orders.
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