Regulatory Alerts2017-05-31
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BRPD Circular Letter No. 05: Providing the information of lawsuits related to Sick Industries
Scheduled banks operating in Bangladesh are directed to submit quarterly information regarding lawsuits involving sick industrial establishments to the Policy and Financial Incentives Division and Litigation Wing of the Ministry of Industries, as well as to the Banking Regulation and Policy Department of Bangladesh Bank. This reporting must occur within 15 days following the end of each quarter (March 31, June 30, September 30, and December 31). The requirement is issued in response to a memorandum from the Ministry of Industries dated May 9, 2017.
Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. Ref No.: BRPD Circular Letter No. 05 Date: ------------------ May 31, 2017
To, Managing Director / Chief Executive Officer All Scheduled Banks operating in Bangladesh.
Subject: Providing information of lawsuits related to Sick Industries.
Dear Sir,
Reference is invited to the Memorandum No. 53.00.0000.331.04.001.17-138 dated May 9, 2017, from the Department of Public Enterprises, Ministry of Industries, Government of the People's Republic of Bangladesh, regarding the subject matter above (copy enclosed).
- You are hereby directed to submit information regarding lawsuits involving sick industrial establishments of your bank, and the progress of actions taken in this regard, on a quarterly basis (based on March 31, June 30, September 30, and December 31) to the Policy and Financial Incentives Division and Litigation Wing of the Ministry of Industries, and the Banking Regulation and Policy Department of Bangladesh Bank, within 15 (fifteen) days after the close of the respective quarter.
Yours faithfully,
(Abu Farah Md. Naser) General Manager Phone: 9530252
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