Regulatory Alerts2023-02-15
Added
BRPD Circular Letter No. 05: Refinance Scheme to Support Cinema Hall Owners
The Bangladesh Bank extends the deadline for participating banks to apply for refinancing facilities under the cinema hall refinance scheme from 31 December 2022 to 31 December 2023. This extension addresses the large portion of the fund remaining unused despite customer interest in loans for repairing, modernizing, or constructing cinema halls. All other instructions contained in the referenced circulars and letters remain unchanged.
Bangladesh Bank Chief Executive Office Motijheel, Dhaka-1000 Bangladesh. Ref: BRPD Circular No. 05 Banking Regulation and Policy Department 02 Falgun 1429 BRPD Circular Letter No.-05 Date: ------------------ 15 February 2023 Managing Directors / Chief Executives All Scheduled Banks Operating in Bangladesh Dear Sir,
In the context of the establishment of a special refinance scheme by the Bangladesh Bank to provide short-term, long-term loans/investments at low interest rates for the purpose of repairing and modernizing existing cinema halls and constructing new cinema halls, with the aim of restoring the lost heritage of the cinema industry.
We draw your attention to BRPD Circular No.-04, dated: 14 February 2021, BRPD Circular Letter No.-49, dated: 09 December 2021, and BRPD Circular Letter No.-13, dated: 08 May 2022 on the subject mentioned above.
-
It is a matter of national interest that new, modern cinema halls are introduced to provide healthy entertainment media to the youth of the country. In this regard, the deadline for applying to the Bangladesh Bank for refinancing facilities by participating banks under the established refinance scheme was initially fixed until 31 December 2022. However, a significant portion of the aforementioned fund remains unutilized. On the other hand, it is known that a considerable number of customers are willing to take loans/investments under this fund.
-
Considering the aforementioned matters, the deadline for applying to the Bangladesh Bank for refinancing facilities by participating banks for the distribution of customer-oriented loans under the said scheme has been extended until 31 December 2023.
-
All other instructions mentioned in the aforementioned circulars and circular letters shall remain unchanged.
These instructions are issued under the powers conferred by Section 45 of the Bank Company Act, 1991.
Yours faithfully,
(Md. Ali Akbar Farazi) Director (BRPD) Phone: 9530252