Sonali Bank grapples with $755m in overdue govt import bills

Amid a continued dollar shortage, state-owned Sonali Bank is struggling to process letters of credit (LCs), particularly for goods ordered by government agencies, involving $755 million in import bills owed to international banks as of 11 June. 

The bank’s Deputy Managing Director Subhash Chandra Das wrote to the Director of Bangladesh Bank’s Forex Reserve and Treasury Management Department AKM Kamruzzaman on 11 June in this regard.

The letter, seen by TBS, requested urgent assistance from the Bangladesh Bank to supply the necessary dollars to settle outstanding dues for 72 import LCs.

Source: THE BUSINESS STANDARD