Regulatory Alerts2008-10-06
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BRPD Circular No. 08: Prudential Regulations for Consumer Financing
Regulation 21 of the Prudential Regulations for Consumer Financing is amended to prohibit banks from financing the purchase of used cars older than six years. Banks desirous of financing used vehicles must prepare uniform guidelines for determining the value of these vehicles. This change results from an amendment to the Import Policy Order, 2006-2009.
website: www.bangladesh-bank.org www.bangladeshbank.org.bd Banking Regulation & Policy Department Bangladesh Bank Head Office Dhaka-1000 October 06, 2008 BRPD Circular No. - 08 Date : ----------------------- Ashwin 21 , 1415 Chief Executives All Scheduled Banks in Bangladesh Dear Sir, Prudential Regulations for Consumer Financing Please refer to Regulation 21 of Guidelines for Prudential Regulations for Consumer Financing, circulated vide BRPD Circular No. 07, dated November 03, 2004. 02. Due to amendment in the Import Policy Order, 2006-2009 it has been decided to make changes in Regulation-21 of Prudential Regulations for Consumer Financing which now stands as under: Regulation-21: ‘‘The banks desirous of financing the purchase of used cars shall prepare uniform guidelines for determining value of the used vehicles. However, in no case the bank shall finance the cars older than 6 (six) years.'' Please acknowledge receipt. Yours sincerely, (Md. Jahangir Alam) General Manager Phone: 7117825
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