Garment makers urged Finance Minister AMA Muhith
on Friday to ease conditions for inland bill purchase (IBP) at a time
when the country's largest state bank, Sonali Bank, is tainted with a
loan scam.
IBP is essentially a credit facility that takes place when a bank gives
guarantee to its client for purchase of goods and services from the
local market.
Bangladesh Bank in a circular on July 11 reduced the power of
purchasing IBP by the branches of banks as the banking regulator
detected irregularities in disbursement...
