Regulatory Alerts2023-10-08
Added
DFIM Circular Letter No. 21: Interest/Profit Rate of Deposit and Loan/Lease/Investment
The Department of Financial Institutions and Markets (DFIM) of Bangladesh Bank mandates that financial institutions determine interest and profit rates based on their approved policies, subject to a maximum ceiling of BDT +2.5% for deposits and BDT +5.5% for loans, leases, and investments. These rate caps apply to all new loans distributed after the issuance of this directive, while all other instructions from Circular Letter No. 07 dated June 20, 2023, remain unchanged. The directive was issued under the powers granted by sections 18(c), (e), and (f) of the Financial Institutions Act, 1993, and takes effect immediately.
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