Bangladesh Bank has granted Shinepukur Ceramics Ltd. a special regulatory exemption to facilitate raw material imports in an effort to keep its production running and protect employment in the industrial sector.

According to a circular issued on Tuesday by the central bank’s Banking Regulation and Policy Department-2, the company has been temporarily exempted from provisions of Section 27Ka(3) of the Bank Company Act, 1991, until December 31, 2027.

Under the arrangement, Shinepukur Ceramics will be allowed to open letters of credit (LCs) for importing raw materials through Sonali Bank by maintaining a 100% cash margin.

The exemption applies exclusively to LC openings for raw material imports through Sonali Bank and does not extend to any other banking transactions.

Bangladesh Bank has also imposed several conditions on the facility. The company must deposit all sales proceeds and business income into a designated bank account, from which Sonali Bank’s dues will be repaid on a proportional basis.

The central bank further clarified that neither the Finance Division nor Bangladesh Bank will bear any financial liability arising from this arrangement. Sonali Bank will also not be entitled to seek financial support from the government or the central bank in relation to the facility in the future.

In a separate circular issued the same day, Bangladesh Bank announced that importers must obtain prior approval from the Chief Boiler Inspector before importing boilers or boiler components.

The decision follows a directive issued by the Ministry of Industries’ Boiler Branch on June 28.

Under the new rules, boiler manufacturers must complete construction within 12 months from the date of approval of the boiler’s design and drawings. Importers and manufacturers have also been instructed to strictly comply with all relevant labour laws and occupational health and safety requirements.