Bangladesh Bank has granted a special facility to Shinepukur Ceramics Limited, a company owned by Salman F Rahman, former adviser on private industry and investment to the prime minister. The central bank issued a directive on Tuesday allowing the company to open import letters of credit (LCs) for raw materials with a 100 percent margin through Sonali Bank. This exemption will remain effective until December 31, 2027, and temporarily suspends the application of Section 27 KaKa(3) of the Bank Company Act for the firm.

The directive clarifies that neither the government nor Bangladesh Bank will bear any liability for loans or financing extended under this facility, and lenders cannot seek financial support from them in the future. Shinepukur Ceramics faced legal complications in opening LCs since August 5, 2024, after its parent group, Beximco, was classified as a loan defaulter. Although Shinepukur itself is not a defaulter, it was affected by the group’s classification.

The central bank issued the directive following approval from the Ministry of Finance. A similar exemption had previously been granted to Abdul Monem Sugar Refinery for one year under comparable circumstances.