Regulatory Alerts2015-12-22
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ACD Circular Letter No. 05: Ensuring presence of banks' suitable representative in the meeting of District Agricultural Credit Committee (DACC)
The document instructs all scheduled banks operating in Bangladesh to ensure that their regional office heads or, where applicable, branch managers attend District Agricultural Credit Committee (DACC) meetings regularly. This directive addresses the recent practice of sending lower-level staff who lack the authority to present necessary agricultural credit information and implement decisions, which hinders the committee's objectives. Banks are ordered to take necessary measures to guarantee the attendance of these senior representatives to facilitate coordinated and effective agricultural credit programs.
Bangladesh Bank (Central Bank of Bangladesh) Main Office, Agricultural Credit Department Motijheel, Dhaka-1000 Bangladesh 08 Poush, 1422 Ref No.- ACD Circular Letter No.-05 Date: ------------------- 22 December, 2015
Chief Executive/Managing Director All Scheduled Banks Operating in Bangladesh
Dear Sir,
Regarding ensuring the presence of suitable representatives of banks in the meeting of the District Agricultural Credit Committee.
With reference to the above subject, your attention is drawn to ACD Circular No.-12 dated 09/06/2010 of this department and Ref No.- BRPD(P-1)/760/Misc/2013-660-707 dated 13/02/2013 of the Banking Regulation and Policy Department.
These references contain instructions for your bank's Regional Office Head (and Branch Head, where applicable) to attend the meetings of the District Agricultural Credit Committee regularly. However, it has recently been observed that in many cases, some banks send lower-level employees to these meetings. In such instances, the sent representatives are unable to present appropriate information regarding agricultural credit at the meeting, making it impossible to take necessary decisions at the meeting and implement them. Consequently, the purpose of this meeting is largely frustrated.
In order to make the agricultural credit program more integrated and effective, you are hereby instructed again to take necessary measures to ensure the presence of the concerned Regional Head (or Branch Head of the district, where applicable) at the meetings of the District Agricultural Credit Committee.
Yours faithfully,
(Prabha Chandra Mallick) General Manager Phone: 9530138
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