Regulatory Alerts2022-12-01
Added · Updated
Circular dated November 3, 2022 regarding instructions for sustainable financing
The document clarifies the discontinuation of the Industrial, Agricultural, and Contracting Private Sector Initiative, which offered a decreasing interest rate of 8%. It mandates that banks must not renew or extend existing loans under this initiative, nor issue new loans under its framework. Furthermore, banks are required to apply prevailing market interest rates to all future transactions related to these loans, including any restructuring or refinancing.
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