foreign currency constraints

Bangladeshi Power Producers Unable to Secure LCs

Bank of Punjab Empowered to Issue LCs Supporting Pharma Needs

Punjab Health Minister Dr. Javed Akram directs Bank of Punjab to issue Letters of Credit (LCs) for crucial pharmaceutical imports amidst concerns over foreign currency constraints. Details on safeguards and bank selection remain unclear. Stay updated on this development.

Pakistan Curbs Imports

State Bank of Pakistan (SBP), Pakistan’s central bank, initiated a curb on imports in order to control foreign currency outflow due to Pakistan’s depleting foreign currency reserve situation.

Egypt to Ease Foreign Currency Restrictions

Following an August 2022 change in its leadership, the Central Bank of Egypt has eased foreign currency restrictions by permitting

Bangladesh Foreign Currency Retention Policy

On 16 Aug, Bangladesh Bank’s Foreign Exchange Policy Department issued FE Circular Letter No. 31 to clarify that foreign

Sri Lanka Banks Again Honouring LCs

After months of depleting US dollar reserves and denial of importers’ LCs amid the country’s dire foreign currency crisis, some Sri Lankan banks have managed to honour LCs.

Nepali banks to "discourage" Import LCs following "verbal directive" from central bank

Nepali banks said they would follow a “verbal directive” from Nepal Rastra Bank (central bank) to “discourage” traders from opening

Egypt Facing Higher Wheat Costs

One of the world’s largest importers of wheat, Egypt is facing substantially higher costs for the product for which