BB sets 9pc interest for onion import

Bangladesh Bank (BB) today asked all scheduled banks to finance for onion import with 9 percent interest aimed at preventing the upward trend of the onion price in the country.

“Recently, it is noticed that the onion price in the local market is upward due to rise in the price in international market. So, there is crisis of onion at the consumer level,” according to a BB circular, issued here today.

In this circumstance, BB asked banks to finance in importing of onion with 9 percent interest for ensuring enough supply of onion in the local market and preventing the upward trend of price.

Besides, BB suggested banks to keep the lowest margin for the onion import credit instrument.