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Banks accept lollars for 15 percent of medical imports
The Association of Banks (ABL) has urged the banks not to ask importers of medicine and medical supplies to pay 15 percent of the value of their import documentary credit in cash. Importers of medicine and medical supplies have to provide this amount in foreign currency. They can secure the remaining 85 percent from the Central Bank (BDL) at the exchange rate of LL1,515. ABL said the new decision was reached in agreement with BDL. , Chairperson of the Syndicate of Importers and Traders of Medical and Laboratory Equipment, said the banks will abide by ABL’s recommendation. She said that allowing payments by check, or bank transfer, or by debiting a bank account, means that the 15 percent could be paid in ‘lollars’ (dollars stuck in bank accounts). Importers had to buy the dollars for
