Regulatory Alerts2022-09-18
Added
ACD Circular No. 06: Disbursing agricultural credit for salt cultivation at 4% concessional interest rate
The document repeals previous directives and establishes new rules for disbursing agricultural loans for salt cultivation at a 4% concessional interest rate in Bangladesh's coastal areas. Loans are available to actual salt cultivators, including small, marginal, and sharecroppers, with repayment terms extending up to 12 months. Banks must submit claims for interest compensation to the central bank within one month of the fiscal year's end, subject to a 10% field verification rate, and will receive reimbursement from the Ministry of Finance. Any interest charged above the 4% rate disqualifies the account from compensation.
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