Staff Reporter :
Bangladesh Bank Governor Ahsan H. Mansur has assured that banks facing financial difficulties will be instructed to disburse exporters their due payments from export proceeds, while a plan for a long-term solution is being formulated.
“Temporary measures will be implemented to ensure that banks pay their clients from export proceeds, enabling exporters to meet urgent financial obligations,” he stated during a meeting with leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Tuesday, according to a press release from the trade body.
“Subsequently, the necessary steps will be taken to address the
issue permanently and comprehensively,” the governor added.
Currently, several troubled banks are struggling to settle back-to-back LC payments and exporters’ dues even after receiving export proceeds. This has left exporters unable to pay wages and other operational costs, raising concerns about potential labour unrest.
BGMEA President Mahmud Hasan Khan Babu told the media that over 200 garment exporters are currently affected by this banking crisis.
BGMEA Calls for Immediate Action At the meeting, the BGMEA president highlighted that severe liquidity shortages in five banks have caused major disruptions. Even when export proceeds are received, payments to exporters are delayed, and the banks are unable to open new LCs, he said.
“This situation has pushed many garment factories into significant financial losses, hampering regular operations and export activities. Factories are struggling to pay wages and allowances on time, which is increasing worker unrest and could escalate into law-and-order issues,” Mahmud added, urging the government to take swift and effective action.
He also cautioned that the crisis is damaging Bangladesh’s international reputation and undermining buyers’ confidence in the country’s garment sector, posing serious risks to the industry.
BGMEA leaders expressed grave concern, warning that unless immediate measures are taken, many enterprises could become financially insolvent, resulting in large-scale job losses and threatening the country’s primary export sector.
