DFIM Circular Letter No. 13: Interest/Profit Rate of Deposit and Loan/Lease/Investment

The document establishes maximum interest and profit rates for financial companies in Bangladesh, setting the ceiling for deposit rates at BDT +2.0% and for loans, leases, or investments at BDT +5.0%. These new rates apply to deposits collected and loans distributed after the issuance of this circular, while other instructions from Circular Letter No. 07/2023 remain unchanged. The directive is issued under Section 41(2)(g) of the Financial Companies Act, 2023, and takes effect immediately.

Get BB alerts — same-day email on every new publication.

Bangladesh Bank
(Central Bank of Bangladesh)
Head Office
Motijheel, Dhaka-1000
Bangladesh.

DFIM Circular Letter No. 13

To:
Managing Director/Chief Executive Officer
All Financial Companies operating in Bangladesh.

Dear Sir,

Subject: Interest/Profit Rate of Deposit and Loan/Lease/Investment.

Reference is drawn to your attention DFIM Circular Letter No. 07, dated: 20 June 2023, DFIM Circular Letter No. 21, dated: 08 October 2023, DFIM Circular Letter No. 25, dated: 29 November 2023, and DFIM Circular Letter No. 08, dated: 05 March 2024, regarding the above-mentioned subject.

Considering the current monetary policy rates, the interest/profit rates for deposits and loans of financial companies shall be determined as follows:
(a) The maximum interest/profit rate for deposits shall be BDT +2.0%; and (b) The maximum interest/profit rate for loans/leases/investments shall be BDT +5.0%.
The instructions in paragraph 2 above shall apply to newly collected deposits and distributed loans from the date of issuance of this circular. Furthermore, all other instructions of DFIM Circular Letter No. 07/2023 shall remain unchanged.

These instructions are issued under the authority granted by Section 41(2)(g) of the Financial Companies Act, 2023, and shall take effect immediately.

Yours faithfully,

(Md. Asaduzzaman Khan)
Director (DFIM)
Phone: 9530178.

20 Chaitra 1430
Date:
03 April 2024

Financial Institutions and Markets Department

Read the rest free

Lineage: Superseded

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

Amended 1 time · last 2024-10-06

2024-10-06BBDFIM Circular No. 05: Interest/Profit Rate of Deposit and Loan/Lease/Investmentsupersedes

Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works