Businesses in Bangladesh can now import goods without opening letters of credit, using purchase or sales contracts instead, with the government removing the previous value ceiling on such transactions.
Bangladesh Bank has issued instructions to authorised dealer banks to implement the Import Policy Order 2026-2029, which allows both industrial and commercial importers to bring in permissible goods through purchase or sales contracts regardless of value.
The new framework also recognises open-account transactions and other international payment methods approved by Bangladesh Bank, giving importers greater flexibility in settling payments.
The Ministry of Commerce gazetted the Import Policy Order 2026-2029 on August 24. It came into force immediately and will remain effective until December 31, 2029, unless replaced earlier by a new order.
Under the previous framework, commercial imports through purchase or sales contracts without LCs were subject to a value ceiling. The new policy removes that restriction, allowing both industrial and commercial importers to use such contracts without a prescribed monetary limit.
Importers will, however, still have to comply with Bangladesh Bank’s foreign-exchange rules and all other regulatory requirements governing import transactions.
Authorised dealer banks are also required to follow the Import Policy Order when processing payments for imported goods and transactions involving production inputs.
The policy expands facilities for export-oriented industries to obtain raw materials and production inputs, including through free-of-cost arrangements. It also provides for wider use of bonded warehouse facilities and other mechanisms intended to make sourcing inputs easier for exporters.
The measures are part of a broader overhaul of Bangladesh’s import regime aimed at aligning trade procedures with international practices, improving the ease of doing business and facilitating access to industrial raw materials.
