Bangladesh Bank Governor Ahsan H Mansur has assured that crisis-ridden banks will be directed to pay exporters their due share from export proceeds, with a plan for a permanent solution to follow.
"Temporarily, steps will be taken so that banks pay their customers from the export proceeds, ensuring exporters can meet urgent financial needs," he said during a meeting with leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Tuesday.
According to a press release issued by the BGMEA, "Later, necessary measures will be adopted to resolve the issue permanently and conclusively," the governor added.
Troubled banks unable to pay over 200 exporters, BGMEA to meet governor today for remedy
Currently, several troubled banks are failing to settle back-to-back letters of credit (LCs) or pay exporters' due portions from export proceeds.
BGMEA President Mahmud Hasan Khan Babu earlier said that more than 200 garment exporters are suffering due to this crisis.
