Regulatory Alerts2012-07-16
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BRPD Circular Letter No. 05: Avoidance of High Expense for Luxurious Vehicles and Decoration
The Banking Regulation and Policy Department of Bangladesh Bank replaces previous instructions regarding the purchase of bank-owned vehicles by prohibiting the acquisition of motor cars costing more than 35.00 lakh Taka and jeeps costing more than 50.00 lakh Taka. An exception is granted for purchasing jeeps from the state-owned enterprise M/s Progress Industries Ltd, allowing purchases up to a value of 85.00 lakh Taka. This directive supersedes Circular Letter No. 08 dated December 06, 2009, and is effective immediately for all banks and specialized banks operating in Bangladesh.
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