Regulatory Alerts2015-10-12
Added · Updated
BRPD Circular Letter No. 12: Proper implementation of 'The Mandatory Jute Packaging Act 2010'
Scheduled banks operating in Bangladesh are directed to mandate the use of jute bags for the production and supply of rice, paddy, wheat, corn, fertilizer, and sugar by businesses in these sectors. Banks must refuse to provide, renew, or distribute loans to any such business that fails to use jute bags for product packaging. This directive enforces a decision taken at an inter-ministerial meeting held on September 20, 2015, under the Ministry of Textiles and Jute to ensure proper implementation of the Mandatory Jute Packaging Act 2010.
Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. Ref No.: BRPD Circular Letter No. 12 Ashwin 27, 1422 Date: October 12, 2015
To, Managing Director / Chief Executive All Scheduled Banks operating in Bangladesh.
Dear Sir,
Re: Proper implementation of 'The Mandatory Jute Packaging Act 2010'.
We would like to draw your attention to the subject matter above, noting that at an inter-ministerial meeting held on September 20, 2015, under the Ministry of Textiles and Jute, it was decided to mandate the use of jute bags by banks in the provision, renewal, and distribution of loans to businesses/establishments producing and supplying rice, paddy, wheat, corn, fertilizer, and sugar, to ensure proper implementation of 'The Mandatory Jute Packaging Act 2010'. In this context, you are hereby directed to properly implement the aforementioned decisions by informing the aforementioned establishments in writing that if they do not use jute bags for product packaging, banks will not provide loan facilities to them.
Yours faithfully,
(Abu Farah Md. Naser) General Manager Phone: 9530252.
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