ACD Circular Letter No. 01: Use of Agents/Intermediaries for Loan Disbursement and Recovery under the Refinance Scheme for Solar Energy, Bio-gas and Effluent Treatment Plant Sectors

Bangladesh Bank Chief Executive P.O. Box No. 325 Dhaka Bangladesh Ref. No. ACD/Policy-1/01/2010/01 Agricultural Credit Department (Policy Branch) 13 Ashar, 1417 ACD Circular Letter No. : 01 Date: ----------------- 20 June, 2010 To All Chief Executive/Managing Directors All Scheduled Banks/Financial Institutions operating in Bangladesh Dear Sir,

Context regarding the use of any company/organization as Agent/Intermediary in the process of disbursement and recovery of loans at the borrower level under the Refinance Scheme for Solar energy, Bio-gas & Effluent Treatment Plant sectors.

Reference is invited to ACD Circular No. 06, dated 03/08/2009.

In order to further expand the benefits of the Refinance Scheme in the Solar Energy sector and to make it easier for customers to access, it has been decided to add the following part at the end of paragraph 2.1.2(c) of the said Circular:

"Any company/organization may be used as an Agent/Intermediary for work related to customer selection, loan proposal preparation, evaluation, approval, loan disbursement, monitoring, recovery, etc. In this regard, the interest rate shall be: Prevailing Bank Rate + Maximum 5%."

The above instructions shall be implemented immediately.

Kindly acknowledge receipt.

Yours faithfully,

(S. M. Moniruzzaman) General Manager Phone No.-7120947