Regulatory Alerts2024-12-31
Added
BRPD Circular Letter No. 58: Transfer of interest to income account and maintaining provision against loans
The Bangladesh Bank revokes the mandatory requirement for banks to maintain additional general provisions at rates of 1%, 1.5%, or 2% for loans under the COVID-19 relief scheme. Banks are instructed to transfer provisions previously held for these specific loans into the general and specific provision accounts against loans and advances. This directive is issued under Section 45 of the Bank Company Act, 1991, and takes effect immediately.