Regulatory Alerts2025-03-23
Added
ACD Circular Letter No. 01: About CIB Reporting for Agricultural and Rural Credit
The document mandates that all new agricultural and rural credit approvals or renewals, excluding those linked to microfinance institutions (MFIs), require a Credit Information Bureau (CIB) report verification regardless of the loan amount. This requirement replaces the previous exemption for crop and harvest loans up to 250,000 BDT, aiming to prevent multiple loans from different banks and reduce the risk of fraud. Banks are instructed to use the Bangladesh Bank's CIB portal to obtain these reports quickly, while all other instructions in the referenced circular and policy remain unchanged. This directive takes immediate effect.
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