BB waives 10pc retention of advance remittances received against exports | Business

DHAKA, Sept 25, 2025 (BSS) - Bangladesh Bank (BB) has waived 10 percent retention of advance remittances received against exports to facilitate small exporters. To this end, the central bank today issued a circular, saying banks can now pay out hundred per cent of advance remittances received from importers against export contracts to the exporters. Advance payment against exports is a method of payment where the foreign buyer pays the exporter a portion or the full amount of the invoice before the goods are shipped, significantly reducing the exporter's risk of non-payment while increasing the buyer's risk. This method is beneficial for exporters in high-risk situations, such as dealing with new or unreliable customers, and can be processed through wire...