Regulatory Alerts2022-06-02
Added
BRPD Circular No. 11: Refinance Scheme for Digital Nano Loan
The Bangladesh Bank establishes a Tk 100 crore refinance scheme for scheduled banks to provide digital nano loans ranging from Tk 500 to Tk 50,000 with a maximum interest rate of 9% and a maximum tenure of six months. The scheme allocates Tk 50 crore initially, with a second tranche of Tk 50 crore contingent on the proper utilization of the first, and charges banks a 1% interest rate on the refinance facility. Participating banks must execute an agreement with the Financial Inclusion Department, bear all credit risks, and repay the principal and interest to the Bangladesh Bank in quarterly installments.