FID Circular Letter No. 01: Amendment of Circular on Tk 200 Crore Refinance Scheme for 10 Tk A/C Holders

FID Circular Letter No. 01
Date: 20 January 2016
7 Magh 1422

To the Managing Directors/Chief Executives
All Scheduled Banks Operating in Bangladesh

Dear Sir,

Regarding the Refinance Scheme for Small/Medium/Landless Farmers, Natural Disaster Victims, Low-Income Professionals, and Small/Medium Traders under the Financial Inclusion Program.

Reference is drawn to your attention to GBCSR Circular No. 01/2014 dated 14 May 2014 on the subject cited above.

In order to facilitate the distribution and recovery of loans under the Refinance Scheme mentioned in the circular, you are advised to follow the following procedures:

1. Under the Refinance Scheme, regarding the distribution of agricultural loans to customers in the agricultural sectors mentioned in the Agricultural Credit Policy, banks may, at their own discretion, determine one or more installments for the full recovery of the loan.

2. In the case of providing loans up to a maximum of Tk 50,000 individually under the Refinance Scheme, there is no need to obtain a CIB report. However, banks must ensure that no loan facilities are provided to willful defaulters.

All other instructions mentioned in the circular will remain unchanged.

Financial Inclusion Department
Bangladesh Bank
Head Office, Dhaka.