Bangladesh Bank has granted Abdul Monem Sugar Refinery Ltd (AMSRL) permission to open letters of credit for sugar imports, despite the company’s status as a defaulter.
The central bank achieved this by temporarily relaxing a provision of the Bank Company Act, 1991, with the exemption valid until June 30, 2027.
This regulatory adjustment allows AMSRL to resume critical import operations that were previously blocked due to its non-compliant financial standing.
The move is likely to ease domestic sugar supply pressures, as AMSRL is a significant player in the local refining sector.
By enabling the company to secure foreign exchange for imports, the central bank aims to stabilize domestic prices and ensure adequate availability of a staple commodity.
This decision reflects a pragmatic approach to balancing regulatory enforcement with essential supply chain continuity.