Regulatory Alerts2023-07-16
Added
FID Circular Letter No. 01: Enhancement of Fund under Refinance Scheme for Digital Nano Loan
The document increases the fund amount for the Refinance Scheme for Digital Nano Loan from 100 crore BDT to 500 crore BDT to meet growing demand and support financial inclusion. This directive is issued under Section 45 of the Bank Company Act, 1991, and takes immediate effect. All other instructions previously issued in related circulars remain unchanged.
Bangladesh Bank Chief Controller Motijheel, Dhaka-1000 Bangladesh.
To: All Scheduled Banks Operating in Bangladesh.
Subject: Enhancement of Fund under Refinance Scheme for Digital Nano Loan.
Dear Sir,
Reference is invited to BRPD Circular No. 11 dated June 02, 2022, and FID Circular Letter No. 02 dated June 20, 2022, on the subject above.
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Considering the needs of the disadvantaged and rural population of the country, a revolving (unencumbered) refinance scheme of 100 (one hundred) crore Taka was previously established by Bangladesh Bank to provide short-term low-interest/profit digital micro-loans/investments and to achieve the goal of forming 'Digital Bangladesh'. Now, to accelerate the journey towards a prosperous and smart Bangladesh by increasing the amount of the said fund to 500 (five hundred) crore Taka, in view of the continuous demand for digital micro-loans, expansion of financial inclusion, and encouraging and habituating the rural population to digital transactions.
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In addition, other instructions mentioned in the aforementioned circular/circular letter shall remain unchanged.
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This directive is issued under the powers conferred by Section 45 of the Bank Company Act, 1991, and shall take immediate effect.
Yours faithfully,
(Md. Nazrul Islam) Director (FID) Phone: 02-9530343
FID Circular Letter No. 01 Date: 16 Shrawan 1430 16 July 2023