Regulatory Alerts2022-12-21
Added
BRPD Circular Letter No. 52: Regarding Loan Rescheduling and Restructuring
The document amends Section 4(2)(c) of BRPD Circular No. 16 by replacing the maximum rescheduling period for short-term agricultural loans and loans distributed to cottage and micro-enterprises. The new maximum term is set at three years for the first rescheduling and two years and six months for the second and subsequent reschedulings. This directive is issued under the powers granted by Section 49(1)(c) of the Bank Company Act, 1991, and applies to all scheduled banks operating in Bangladesh.
Bangladesh Bank Chief Executive Office Motijheel, Dhaka-1000 Bangladesh. Ref No.: BRPD Circular Letter No. 52 Banking Regulation and Policy Department 21 December 2022 BRPD Circular Letter No. 52 Date: ------------------- 06 Poush 1429 Managing Director / Chief Executive Officer All Scheduled Banks operating in Bangladesh. Dear Sir, Regarding Loan Rescheduling and Restructuring.
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Reference is invited to BRPD Circular No. 16, dated 18 July 2022, on the subject matter.
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In order to provide further clarification on the instructions mentioned in the said circular and to ensure its proper implementation, the following text is substituted for Section 4(2)(c) of the circular:
"In the case of rescheduling of short-term agricultural loans and loans distributed to cottage and micro-enterprises, the maximum term shall be 3 years for the 1st time and 2 years and 6 months for the 2nd and subsequent times."
- This directive is issued under the powers granted by Section 49(1)(c) of the Bank Company Act, 1991.
Yours faithfully, (Md. Ali Akbar Farazi) Director (BRPD) Phone: 9530095