Regulatory Alerts2023-03-06
Added
BRPD Circular Letter No. 08: Regarding Loan Adjustment of Government Identified Sick/Closed Industries (Non-Textile Sector)
The Bangladesh Bank replaces clauses (b) and (c) of BRPD Circular No. 18 to adjust loan repayment procedures for non-textile industries identified as sick or closed by the Government. Banks may apply interest at the Cost of Fund rate after waiving applicable interest, with discretion to relax this rate in specific sectors per Ministry of Finance guidelines. Customers must submit applications for down payments to the concerned bank by June 30, 2023, after which applications will no longer be accepted. These instructions are issued under Section 45 of the Companies Act, 1991, and take immediate effect.
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