Regulatory Alerts2023-08-13
Added
BRPD Circular Letter No. 33: Refinance Scheme for Pre-Shipment Credit
The document amends the interest rate caps for the Pre-Shipment Credit Refinance Scheme effective July 1, 2023, raising the maximum customer interest rate from 3.5% to 5% and increasing the interest rate payable to the Bangladesh Bank on refinanced funds from 0.5% to 2%. It mandates that any default by participating banks on repayment schedules incurs interest at the bank's own rate for the duration of the default. All other instructions from BRPD Circular No. 08/2022 remain unchanged, and these directives are issued under Section 45 of the Bank Company Act, 1991, taking immediate effect.
Topics
Share