Regulatory Alerts2011-09-22
Added · Updated
ACD Circular Letter No. 03: Inclusion of Fish Cultivation in Cage in Agricultural/Rural Credit Policy and Programme for FY 2011-2012
The document instructs scheduled banks operating in Bangladesh to include "fish cultivation in cage" as a sub-sector under the fisheries resource category within the Agricultural/Rural Credit Policy and Programme for the fiscal year 2011-2012. Banks are authorized to independently determine loan amounts, disbursement periods, tenures, repayment schedules, and collateral requirements for local fish farmers and experts in consultation with relevant authorities. This directive references previous guidance from ACD Circular No. 03 dated July 28, 2011, to formalize the inclusion of this specific aquaculture activity in the credit policy.
Bangladesh Bank Head Office P.O. Box 325 Dhaka Bangladesh
Ref. No. ACD Circular Letter No. 03 dated 22/09/2011 AD Ref. No. ACD Circular Letter No. Agricultural Credit Department (Policy Branch)
To, The Chief Executive/Managing Directors All Scheduled Banks operating in Bangladesh.
Dear Sir,
Subject: Inclusion of "Fish Cultivation in Cage" in the Agricultural/Rural Credit Policy and Programme for the Fiscal Year 2011-12.
Reference is drawn to paragraph 6.04 of ACD Circular No. 03 dated 28/07/2011 on the subject cited above.
Under the Agricultural/Rural Credit Policy and Programme for the Fiscal Year 2011-12, "fish cultivation in cage" is included in the programme as a sub-sector of the fisheries resource sector. In this regard, banks shall take their own decisions regarding the amount of loan, disbursement period, tenure, repayment schedule, and collateral after consulting with local fish farmers, fishery experts, and authorities.
Please acknowledge receipt.
Yours faithfully,
- Signed - (Abdus Sobhan Talukdar) Deputy General Manager Phone No. 7120388