Regulatory Alerts2023-02-19
Added
CGD Circular Letter No. 01: Settlement of Guarantee Claim under Credit Guarantee Scheme
The document instructs banks and financial institutions to settle guarantee claims for non-litigable bad debts up to BDT 500,000 without filing a court case, applying this rule to MSME, cottage, micro, and small business sectors under specific credit guarantee schemes. This directive aligns with previous instructions regarding small loan write-offs and remains effective immediately, while other existing claim settlement guidelines remain unchanged. The policy applies to borrowers in the MSME sector and those under the BDT 50 billion refinancing scheme for primary farmers, landless individuals, low-income professionals, school banking account holders, and small business owners.
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