Regulatory Alerts2010-09-29
Added · Updated
FEPD Circular No. 19: Interest rate on Export Development Fund (EDF) loans
EDF loans to a single manufacturer-exporter up to USD 1.50 million are charged interest at six-month LIBOR plus 1 percent per annum, while loans exceeding this amount remain at six-month LIBOR plus 2.5 percent per annum. Manufacturer-exporters drawing from multiple Authorized Dealers must disclose drawings from other banks to ensure correct rate application, with non-compliance resulting in the higher rate being charged on excess borrowings. Bangladesh Bank realizes interest from Authorized Dealers at six-month LIBOR for the first USD 1.50 million of EDF loans. These revised rates are effective from January 1, 2010, and remain valid until June 30, 2011.
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