Regulatory Alerts2024-03-18
Added
BRPD Circular Letter No. 14: Simplifying the process of charging and collecting supervision charge
The document mandates a standardized method for calculating and collecting the 1% supervision charge on CM SME and consumer loans, requiring banks to base calculations on the average daily outstanding balance for current accounts and the average periodic balance for term loans. It prohibits any additional charges or interest on the supervision fee and requires banks to refund any excess amounts collected under previous practices. The directive applies immediately to all scheduled banks operating in Bangladesh, including Islamic banks, while maintaining all other instructions from Circular No. 09/2023.
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