Regulatory Alerts2020-11-01
Added · Updated
DFIM Circular Letter No. 06: Regarding Loan/Lease/Advance Classification for Financial Institutions
The circular instructs financial institutions to classify specific loans, leases, and advances as deferred from January 1, 2020, to December 31, 2020, for borrowers in affected sectors, while requiring the redefinition of credit limits and volumes for January 2021. It mandates that existing interest and profit calculation policies remain in force during this period and prohibits the charging of any additional interest, penalties, or commissions. This directive is issued under Section 18(c) of the Bangladesh Bank Order, 1993.
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