Regulatory Alerts2020-05-03
Added · Updated
BRPD Circular Letter No. 22: Financial stimulus package to mitigate probable economic impact due to breakout of Novel Corona Virus (COVID-19)
Bangladesh Bank has amended paragraph 8(a) of BRPD Circular No. 08/2020, clarifying conditions for financial stimulus packages for all scheduled banks and financial institutions. The amendment states that if loan/investment outstanding exceeds the sanctioned limit due to accrued interest/profit, the recipient must repay or adjust the excess within 10 working days after each quarter. Additionally, banks and financial institutions are authorized to seek assistance from FBCCI or its member chambers/associations for activities related to borrower selection, loan/investment disbursement, supervision, and recovery. This instruction is effective immediately.
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