Bangladesh Bank had authorized two other commercial banks to carry out commercial transactions in rupees between Bangladesh and India. The two banks are private sector Islamic banks and foreign standard chartered banks.
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With this, four banks got permission to deal in rupees with India. Earlier this permission was given to public sector Sonali Bank and private sector Eastern Bank.
Already they have opened LC for import and export of India goods in Rs. The first shipment of the product has also arrived.
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Before this, foreign trade with India was officially launched in rupees on July 11. Since its launch, many banks have shown interest in doing transactions between the two countries in rupees. Basically, this transaction was started to reduce the excessive dependence on the dollar and to save the dollar.
Apart from this, 6 more banks have applied to the central bank seeking permission to conduct transactions in rupees between the two countries. The banks are Trust Bank, Social Islami Bank, AB Bank, NCC Bank, Prime Bank and Premier Bank.
