[🇧🇩] Monitoring Bangladesh's Economy

[Saif]

Reserves drop to $19.7b after ACU payment

Bangladesh’s foreign exchange reserves fell from $21.39 billion to $19.7 billion yesterday after the country paid $1.75 billion in regional import bills through the Asian Clearing Union (ACU).

www.thedailystar.net

Reserves drop to $19.7b after ACU payment

Bangladesh's foreign exchange reserves fell from $21.39 billion to $19.7 billion yesterday after the country paid $1.75 billion in regional import bills through the Asian Clearing Union (ACU).

The ACU, a Tehran-based organisation, facilitates payment settlements among nine member countries: India, Bangladesh, Bhutan, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka.

Under the ACU mechanism, Bangladesh clears its import bills every two months, leading to a temporary decline in reserves after each payment.

As of March 6, the country's forex reserves stood at $21.39 billion, calculated in accordance with the International Monetary Fund's (IMF) BPM6 manual.

Due to a growing trend in remittance inflows in recent months, the central bank has been able to mitigate the sharp decline in forex reserves, particularly since the end of the Awami League-led government's regime on August 5 in the face of mass uprising.

Last month, remittance inflows to Bangladesh rose 25 percent year-on-year to $2.52 billion as migrant Bangladeshi workers sent larger-than-expected amounts to their families back home for Ramadan-related purchases and Eid shopping.​

 

[Saif]

Govt releases Tk 10b incentives for exporters

The government has released Tk 10 billion as cash incentive for the country's exporters, according to sources. It offers such incentive and cash subsidy against export earnings. Finance Division issued an order to this end on March 05. It is the third instalment of the export incentive allocated

thefinancialexpress.com.bd

Govt releases Tk 10b incentives for exporters
FE Report
Published :
Mar 10, 2025 08:58
Updated :
Mar 10, 2025 08:58

The government has released Tk 10 billion as cash incentive for the country's exporters, according to sources.

It offers such incentive and cash subsidy against export earnings.

Finance Division issued an order to this end on March 05.

It is the third instalment of the export incentive allocated in the current financial year, 2004-25, for export sectors.

Finance Division has set certain conditions, including providing the amount to different banks and export sectors, for receiving such assistance.

Besides, the banks concerned cannot use the fund for other purposes.

The parties concerned (banks, incentive receivers) should follow the existing policy strictly, otherwise legal action would be taken for non-compliance.

The Office of the Controller General of Accounts will announce the debit authority regarding the issue soon.

The Bangladesh Bank (BB) will provide the incentive as per the demand by the respective banks for making payments to the exporters concerned.

Export-oriented sectors like ready-made garment, frozen shrimp and other fish, leather items, jute and jute products enjoy such incentives, according to an official order of the Finance Division issued recently.

Meanwhile, a special 1.0-per cent cash incentive support fund for the apparel industry has also been included in the instalment.

The government reduced rates of cash incentives against exports for all 43 categories up to 50 per cent for fiscal year 2024-25.​