The decision will help such exporters offset the loss of export proceeds they often incur by offering buyers discounts of more than 5 per cent prescribed in the guidelines for foreign exchange transactions.
In some cases, buyers bargain for additional discounts after settling the price.
Bangladesh leather and leather goods exporters can now apply to the discount committee of the Bangladesh Bank for over 5 per cent discount against export of their items. A circular in this regard was issued by the foreign exchange policy department of the central bank recently. The apparel sector was the sole beneficiary of the benefit till now.
If exporters can show reasonable evidence of offering additional discounts, the discount committee will consider it, Bangladeshi media outlets reported.
Fibre2Fashion News Desk (DS)
