Representational image. | New Age file photo
The Bangladesh Bank has instructed all scheduled banks not to open letters of credit or process telegraphic transfers for the import of dietary and related supplements without prior approval from the Directorate General of Drug Administration.
The directive was issued on Wednesday through a circular, forwarding an official communication from the DGDA to the banks.
According to the DGDA, under the Drugs and Cosmetics Act, 2023, it is mandatory to obtain registration or prior approval from the authority for the production, import, export, sale and distribution of dietary supplements, herbal supplements, nutritional supplements, medical nutrition, therapeutic nutrition and related products.
The DGDA noted that some entrepreneurs had been importing such products from various countries without obtaining the required approval.
As the customs authorities refused to release these products without DGDA registration or prior approval, the concerned importers filed separate writ petitions with the High Court Division.
In those cases, the court directed the customs authorities to release the goods. Subsequently, customs authorities appealed to the Appellate Division of the Supreme Court.
The DGDA said that the Appellate Division later allowed the release of goods subject to compliance with legal conditions.
To ensure proper enforcement of the law, the Bangladesh Bank has now directed banks not to facilitate any import payments, including LCs and TTs, for supplement products without DGDA approval.