Regulatory Alerts2016-12-14
Added · Updated
DMD Circular No. 07: Regarding Loan Sanction with Lien on WEDB, USDIB, and USDPB
The Department of Data Management of Bangladesh Bank approves loans secured by a lien on Wage Earners Development Bonds (WEDB), US Dollar Investment Bonds (USDIB), and US Dollar Premium Bonds (USDPB). The loan limit is capped at 75% of the face value of the bonds, which must be held in the borrower's own name and cannot be transferred as third-party security. Loan proceeds must be invested exclusively within Bangladesh and cannot be transferred abroad, and no loans may be issued from overseas bank branches, although bonds purchased overseas can secure loans from domestic branches.
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