The Bangladesh Bank has asked banks not to do transactions with Sri Lanka through the Asian Clearing Union mechanism.
As per a BB circular issued Thursday, ‘In response to the self-motivated decision by the Central Bank of Sri Lanka to remain temporarily suspended from the ACU mechanism with effect from October 14, 2022; all authorised dealers are advised not to do any trade and trade related transactions with Sri Lanka through the ACU mechanism,’ as per a BB circular issued Thursday.
The ACU is an arrangement through which participating countries settle import payments for intra-regional transactions.
( curtesy newagebd.net)