NOC from Shipping Deptt a must
Staff Correspondent
Commercial Banks have to obtain no objection certificate (NOC) from the Department of Shipping before opening any LC to purchase foreign ships, a Bangladesh Bank (BB) circular said yesterday. Foreign ship SS Norway, containing toxic substances that are dangerous for human life and environment, was recently heading for the country for scraping, the shipping department informed the BB, the circular said. As only the shipping department has enough information on whether a ship is safe for human life and environment, the bank concerned should get suggestion form the department before opening any LC to purchase foreign ships, the circular added.
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