Due to economic constraints, the government of Bangladesh is seeking to purchase oil on credit from Saudi Arabia and Qatar. A proposal for deferred payment was made to Saudi Arabia in February of last year through the then Foreign Minister Dr. A.K. Abdul Momen, via the Saudi Ambassador in Dhaka. Similarly, during the recent visit of Qatar's Emir, Sheikh Tamim bin Hamad Al Thani, to Dhaka, the same proposal was extended to Qatar. However, both countries have yet to respond positively to the deferred payment arrangement, according to sources from the Ministry of Foreign Affairs.

Prior to the Emir of Qatar’s brief 24-hour visit to Bangladesh on April 22 and 23, Foreign Minister Dr. Hassan Mahmud announced during a press conference that efforts would be made to procure oil on credit from Qatar, following a similar proposal made to Saudi Arabia a year earlier.

Ministry sources indicate that the discussions about buying oil on credit were informal and not documented, but the interest was communicated to both countries. So far, Qatar has not responded.

A source noted that the government is concerned about the country’s energy security and, due to a lack of sufficient cash reserves, has proposed to both Saudi Arabia and Qatar to buy oil on credit for one year. However, the absence of a favorable response has increasingly worried the government.

During the Emir's visit, although initially planned to sign 11 agreements and memorandums of understanding, one was eventually omitted. The five agreements and five memoranda of understanding signed between Dhaka and Doha include double taxation avoidance, revenue evasion prevention.