Regulatory Alerts2022-05-18
Added
BRPD Circular No. 08: Refinance Scheme for Pre-Shipment Credit to Mitigate the Crisis due to Novel Corona Virus
Bangladesh Bank amends the policy for the 5,000 crore Taka refinance fund for pre-shipment credit to export-oriented industries, setting a maximum customer interest rate of 3.5% and a bank refinance rate of 0.5%. Eligible banks must distribute at least 50% of the maximum packing credit limit as pre-shipment credit, with refinance repayable to Bangladesh Bank within 180 days plus interest. The circular revokes previous circulars and letters regarding this scheme while maintaining the liability of lending banks for loan recovery and risk.
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