Bangladesh Bank has allowed authorized dealer (AD) banks to send foreign currency for lease payments of ships taken on lease by locally registered shipping companies. This move aims to strengthen the country's maritime sector and increase the number of Bangladeshi-owned seagoing vessels. The new policy applies the same procedures used for aircraft lease rentals. Companies must obtain necessary permissions and submit regular reports to Bangladesh Bank.
Officials from Bangladesh Bank say this initiative will help local shipping companies expand their seagoing vessel operations. It is also expected to increase foreign currency earnings and reduce dependence on foreign ships, contributing to foreign currency savings for the country.
