Regulatory Alerts2024-09-10
Added · Updated
CIB Circular No. 03: Regarding reporting of loans sanctioned against a company having various units/factories in CIB Database
Bangladesh Bank mandates that loans sanctioned to multiple units or factories of a single registered company must be reported under the single company name approved by the Registrar of Joint Stock Companies and Firms (RJSC), rather than under individual unit names. If distinct units are registered as separate legal entities by the RJSC, they must be reported as separate companies in the CIB database. This directive is effective immediately and is issued under the authority of Article 44(1) of the Bangladesh Bank Order, 1972.
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