The ACU, the umbrella body of central banks of Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka, was established in December 1974 to facilitate payment among member countries and offset debit and credit accumulated by each member against the other in the process of trade and other transactions.[break]
NRB will not slap charges like commission and SWIFT only if trade-related payments are settled via the central banks located in the ACU member countries, an NRB statement says.
“However, charges will be slapped on other forms of transactions like remittances,” a high-ranking NRB official said.
Related story
Cooperation for trade
