BRPD Circular Letter No. 51: Financial stimulus package to mitigate probable economic impact due to breakout of Novel Corona Virus (COVID-19)

Ref No.: BRPD.CRD.PD
Banking Regulation & Policy Department
Bangladesh Bank
Head Office
Dhaka.
18 October 2020

BRPD Circular Letter No. 51
Date: ---------------------
02 Kartik 1427

To,
Managing Director/Chief Executive
All Scheduled Banks operating in Bangladesh.

Dear Sir,

Subject: Financial stimulus package to mitigate probable economic impact due to breakout of Novel Corona Virus (COVID-19).

Reference is invited to BRPD Circular No. 08/2020 issued on 12 April 2020 on the subject cited above.

2. In this regard, it has been decided that Paragraph 9(b) of the said circular shall be replaced as follows:

"The concerned bank shall apply to the Account & Budgeting Department of Bangladesh Bank for interest/profit compensation in accordance with 'Appendix-B-1' and 'Appendix-B-2', along with the consent letter of the Banking Regulation & Policy Department, within 12 (twelve) days of the following month after the end of each quarter by charging interest/profit on the loan/investment."

3. In addition, other provisions of the aforementioned circular shall remain unchanged.

This directive shall be implemented immediately.

Yours faithfully,

(Md. Nazrul Islam)
Deputy Governor
Phone: 9530252