Regulatory Alerts2025-11-19
Added
BRPD Circular No. 9: Policy on Loan/Investment Write off and Formation of Written off Loan Recovery Unit and its Functions
This circular amends Section 2(1) of BRPD Circular No. 04/2024 to mandate the write-off of classified bad and loss loans with low recovery prospects, prioritizing older accounts. It requires banks to notify borrowers at least 10 days prior to any write-off action. These instructions are issued under Section 45 of the Bank Company Act, 1991, and take immediate effect.
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