Fixation of 03 (three) months time limit for repayment of loans to be disbursed for procurement of rice by mill owners

Website: www.bangladesh-bank.org www.bangladeshbank.org.bd Banking Regulation & Policy Department Bangladesh Bank Head Office Dhaka BRPD Circular Letter No. 07 May 12, 2008 Date: --------------------- Baishakh 29, 1415 Chief Executives All Scheduled Banks in Bangladesh Dear Sir, Fixation of 03 (three) months time limit at maximum for repayment of loan against purchase of rice by the mill owners . The banker's meeting (held on March 12,2007) agreed to maintain credit facilities for the next 90 days after releasing import consignment of essencial commodities from the tax authority. Mill owners are enjoing Bank Pledge Cash Credit facilities for purchasing rice from local market. The credit facilities enjoyed for local procurement of rice by the mill owners should be, in the opinion of Bangladesh Bank in conformity with the credit facilities exted for ninety days for import of essential consumers' goods. Therefore, with a view to ensuring supply of rice in the market you are advised to fix 3 (three) months i,e, 90 (ninety) days time limit at the maximum for repayment of credit facilities against purchase of rice by the local mill owners. Please acknowledge receipt. Yours faithfully, Sd./ (Md. Jahangir Alam) General Manager Phone: 7117825