Regulatory Alerts2024-04-25
Added
DFIM Circular No. 14: Obtaining NOC from the concerned authorities of electricity and gas suppliers in case of loan disbursement
The Department of Financial Institutions and Markets directs all finance companies operating in Bangladesh to obtain a No Objection Certificate (NOC) from the relevant electricity and gas supply authorities before disbursing loans, leases, or investment facilities to new industrial establishments. This directive implements decisions made by the Economic Zone and Government-Designated Industrial Area Exemption Committee on February 7, 2024, which prohibit providing utility connections and loans to new industries without such clearance. The instruction is issued under Section 41(2)(d) of the Finance Companies Act, 2023, and takes immediate effect.
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