Regulatory Alerts2018-01-03
Added · Updated
BRPD Circular Letter No. 01: Maintenance of general provision against the liabilities of LC(s) issued in favor of fast track power plant projects
The document exempts banks from the requirement to maintain a 1% general provision against off-balance sheet exposures for Letters of Credit (LCs) issued in favor of Fast Track Power Plant projects. This exemption applies to LCs already issued under projects that have received Board of Directors (BoD) approval from the Bangladesh Power Development Board (BPDB), as well as LCs to be issued for projects receiving BoD approval by September 30, 2018. The exemption is effective immediately and applies to provision calculations based on December 31, 2017.
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