Regulatory Alerts2019-05-02
Added · Updated
BRPD Circular Letter No. 05: Regarding Transfer of Jute Sector Outstanding Loans to Block Account
The Banking Regulation and Policy Department of Bangladesh Bank directs all scheduled banks operating in Bangladesh to implement the government's support measures for the jute sector as outlined in the Ministry of Finance's letter dated November 29, 2018. This directive addresses complaints that previous instructions regarding the transfer of jute sector outstanding loans to a block account have not been properly executed. Banks are required to submit a report on the implementation progress as of June 30, 2019, to the department within one month.
Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. Ref No: BRPD Circular Letter No. 05 Date: ------------------ 02 May, 2019
To, Managing Director/Chief Executive Officer All Scheduled Banks operating in Bangladesh.
Subject: Regarding Transfer of Jute Sector Outstanding Loans to Block Account.
Dear Sir,
Reference is invited to BRPD Circular Letter No. 25, dated: 03 December, 2018, on the subject above.
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Through the aforementioned circular letter, the letter No. 53.00.0000.331.36.002.18-304 dated 29 November, 2018 from the Accounts Establishment Division of the Ministry of Finance, Government of the People's Republic of Bangladesh, was forwarded to you for information and necessary action. However, complaints have been raised that the instructions in the said letter are not being implemented properly.
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In this regard, you are hereby directed to ensure the implementation of the support announced by the Government for the jute sector through the aforementioned letter No. 53.00.0000.331.36.002.18-304 dated 29 November, 2018, from the Accounts Establishment Division of the Ministry of Finance, Government of the People's Republic of Bangladesh. In this regard, you are advised to submit a report on the implementation progress as of 30 June 2019 to this department within the next one (1) month.
Yours faithfully,
(A. K. M. Amzad Hossain) General Manager Phone: 9530252
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