BRPD Circular Letter No. 03: Refinance Scheme to Support Cinema Hall Owners

Bangladesh Bank Head Office Motijheel, Dhaka-1000 Bangladesh. Website: www.bb.org.bd Banking Regulation and Policy Department 30 Poush 1430 BRPD Circular Letter No. 03 Date: ------------------- 14 January 2024 Managing Director/Chief Executive All Scheduled Banks Operating in Bangladesh Dear Sir, Regarding the formation of a special Refinance Scheme by Bangladesh Bank for providing low-interest long-term loans/investments for the renovation and modernization of existing cinema halls and construction of new cinema halls, with the aim of restoring the lost heritage of the film industry. Your attention is drawn to BRPD Circular No. 04, dated 14 February 2021, BRPD Circular Letter No. 49, dated 09 December 2021, BRPD Circular Letter No. 13, dated 08 May 2022, and BRPD Circular Letter No. 05, dated 15 February 2023, regarding the above subject. 02. It is known that despite significant interest from cinema hall owners in obtaining loans under the said refinance scheme, many customers were unable to submit loan applications in due time due to a lack of correct and clear understanding of the loan application process. Furthermore, scheduled banks were unable to submit a significant number of applications to this office within the stipulated time to avail the mentioned refinance facility after fulfilling the loan formalities. 03. In this situation, the deadline for participating banks to submit applications to Bangladesh Bank for obtaining refinance facilities after disbursing loans at the customer level under the said scheme has been extended until 31 December 2024. 04. In addition, other instructions mentioned in the aforementioned circulars and circular letters will remain unchanged. 05. This instruction has been issued under the powers conferred by Section 45 of the Bank Company Act, 1991. Yours faithfully, (Mohammad Shahriar Siddique) Director (BRPD) Phone: 9530252