Regulatory Alerts2022-06-27
Added
ACD Circular Letter No. 01: Refinance Scheme on Milk Production and Artificial Insemination Sector
The Bangladesh Bank extends the deadline for the refinance scheme on milk production and artificial insemination to December 31, 2024. This extension applies to loans distributed to customers within the previously specified period, allowing banks to claim interest subsidies and reimbursements for refinanced loans. All other instructions and circulars previously issued regarding this scheme remain unchanged and effective immediately.
Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh 13 Ashar, 1429 ACD Circular Letter No. - 01 Date: -------------------- 27 June, 2022 Managing Director/Chief Executive Officer Sonali/Janata/Agro/Rupali/Basic/IFIC/Midland/National Bank Ltd. Bangladesh Krishi Bank/Rajshahi Krishi Unnayan Bank/Anser-BDP Development Bank Head Office Dhaka/Rajshahi. Regarding the policy for implementing the Refinance Scheme (Refinance Scheme) with a 5% concessional interest rate for loans to achieve self-sufficiency in milk in Bangladesh.
Dear Sir,
Reference is drawn to ACFID Circular No. - 02 dated 02/06/2015 on the subject cited above.
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In light of the claims for recovery/adjustment of refinanced loans and compensation claims by banks against loans distributed to customers within the period mentioned in the aforementioned circular, the deadline for the scheme has been extended until 31/12/2024 for the purpose of providing interest subsidies/reimbursements.
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Other instructions, circulars, letters, and documents previously issued regarding the aforementioned scheme shall remain unchanged.
This instruction shall take effect immediately.
Yours faithfully, (Md. Liaqat Ali Mollick) Director (ACD) Phone: 9530138 Agricultural Credit Department