Regulatory Alerts2013-04-28
Added · Updated
BRPD Circular Letter No. 08: Prior approval from regulatory authorities and compliance of related rules and regulations for financing residential/commercial building or structure, land development and for purchasing building/apartment/floor space by banks
Scheduled banks operating in Bangladesh must ensure strict compliance with specified laws, including the Building Construction Act 1952 and the Environment Conservation Act 1995, and obtain prior approvals from relevant authorities such as the National Housing Authority or city corporations for financing residential or commercial construction, land development, or property purchases. This requirement extends to all existing authorizations and to banks' own building construction, purchases, or leases. All banks are required to submit a compliance report to the Banking Regulation and Policy Department by June 30, 2013.
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