Bangladesh Bank has introduced a facility allowing importers to bring in 10 essential commodities on up to 90 days’ deferred payment terms ahead of Ramadan, aiming to maintain adequate supplies and keep prices affordable during the holy month.

Under the facility, importers will be able to receive the goods first and pay for them within the stipulated period, rather than making full payment at the time of import.

The central bank’s Foreign Exchange Policy Department-1 issued a circular on Wednesday outlining the new arrangement.

The commodities covered by the facility are rice, wheat (flour), onions, lentils, edible oil, sugar, chickpeas, peas, spices and dates. Importers can use either suppliers’ credit or buyers’ credit to bring in these products.

Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan said the initiative was designed to keep the prices of goods that see higher demand during Ramadan within the purchasing capacity of ordinary consumers.

He said banks had been allowed to facilitate imports under buyers’ or suppliers’ credit for up to 90 days so that importers could start arranging shipments in advance. This means payment for the imported goods can be made within 90 days.

“We do not want people to face additional pressure from rising commodity prices during Ramadan. This circular has been issued primarily to help ordinary consumers purchase essential goods at relatively affordable prices,” he said.

Arif Hossain Khan added that importers taking steps early would help maintain normal supplies in the market.

He explained that prices tend to rise when demand exceeds supply. By allowing imports ahead of Ramadan, the central bank hopes importers will bring in sufficient quantities of essential commodities, reducing the risk of shortages and easing upward pressure on prices.

According to the circular, the facility has been introduced for commercial imports to ensure an uninterrupted supply of essential food items during Ramadan and keep prices at a tolerable level. Importers will be able to pay for the goods within a maximum of 90 days instead of settling the full amount immediately.

The circular also refers to FE Circular No. 30, issued on August 13, which allowed certain products to be imported under deferred payment terms under paragraph 1(1) of Part D. The latest decision expands that facility to cover additional key food commodities ahead of Ramadan.

All other instructions in the earlier circular will remain unchanged. Authorised dealer banks have also been instructed to inform their respective clients about the new guidelines.