Regulatory Alerts2022-07-21
Added
CGD Circular No. 01: Formation of 'Credit Guarantee Department'
The document instructs all scheduled banks and financial institutions in Bangladesh to direct all communications and reporting regarding credit guarantee schemes to the newly formed Credit Guarantee Department (CGD) at the Central Bank of Bangladesh. This directive follows the separation of the Credit Guarantee Scheme Unit from the SME & Special Programs Department on July 4, 2022, to expand services and support poverty alleviation. The circular lists eleven specific previous circulars and letters whose instructions must now be followed through the CGD. These instructions became effective immediately upon issuance on July 20, 2022.
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