Regulatory Alerts2020-07-21
Added · Updated
FEPD Circular Letter No. 26: Access to finance from domestic sources against overseas guarantees
Bangladesh Bank authorizes banks and non-bank financial institutions to extend Taka finance against overseas guarantees to resident companies, overriding previous restrictions. This permission is subject to conditions including that guarantees are acceptable to lenders, no fees are payable, and immediate intimation is provided if guarantees are encashed. For lending by non-bank financial institutions, guarantees must be received from authorized dealers issued against back-to-back overseas guarantees. This authorization remains applicable until June 30, 2021.
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