Banks in Bangladesh no longer require regulatory approval to issue payment commitments for repatriating surplus earnings of foreign airlines and shipping companies. Previously, Bangladesh Bank’s approval was mandatory for such commitments, but banks can now make these pledges provided they meet certain conditions. These include adhering to applicable credit norms, ensuring compliance with prudential parameters like the single borrower exposure limit, and submitting collateral-backed applications with proper documentation. Additionally, local banks’ boards of directors and foreign banks’ management must approve the payment commitments.
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