Regulatory Alerts2024-03-25
Added
DMD Circular Letter No. 05: Amendment of Guidelines and Operating Procedures of Islamic Banks Liquidity Facility (IBLF)
Bangladesh Bank amends the Guidelines and Operating Procedures of the Islamic Banks Liquidity Facility (IBLF) by replacing the definitions of Eligible Participants and the facility's features. Eligible participants are now defined as Shari'ah Based Banks and Islamic Branches or Windows of Conventional Banks maintaining Current or Al-Wadiah Accounts with Bangladesh Bank. The facility's tenor is set at 7, 14, and 28 days, with the profit rate determined by the respective bank's one-month MTDR rate or the next higher-term deposit rate if no one-month rate exists. These amendments apply to all Shari'ah Based Banks and Islamic Branches or Windows of Conventional Banks in Bangladesh and take effect immediately.
Topics
islamic-finance
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