Regulatory Alerts2020-08-31
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BRPD Circular Letter No. 43: Avoidance of the increasing trend of rate of interest on existing loan account
The document rescinds the instructions issued in BRPD Circular No. 05/2018 regarding the avoidance of increasing interest rate trends on existing loan accounts. This rescission takes effect from April 1, 2020, following the issuance of BRPD Circular No. 03/2020, which capped the interest rate for all non-credit card unrated loans at 9%. The circular is issued under the authority of Section 45 of the Bank Company Act, 1991.
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