Regulatory Alerts2020-05-03
Added · Updated
BRPD Circular No. 11: Transfer of Interest/Profit to non-Interest bearing blocked account during 01 April 2020 to 31 May 2020 considering the business situation due to breakout of Corona Virus (COVID-19)
All scheduled banks operating in Bangladesh must transfer interest or profit imposed on all types of loans and investments from 01 April 2020 to 31 May 2020 to a non-interest bearing blocked account. This interest or profit cannot be collected from the recipients or transferred to the bank's income account until further notice. Any interest or profit already transferred to the income account must be adjusted through a reverse entry. Further instructions regarding the adjustment of these blocked amounts will be provided later.
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