Regulatory Alerts2014-12-22
Added · Updated
GBCSRD Circular Letter No. 03: Regarding Tk. 200 Crore Refinance Scheme for 10 Tk A/c Holders
The document amends previous circulars to establish an interest rate cap of 9.5% per annum for loans disbursed directly to customers and 7% for loans distributed via Microfinance Institutions (MFIs). It mandates that the majority of the refinance fund be distributed directly to customers, allowing MFI channels only in areas where banks lack branches or outlets. These measures apply to all scheduled banks operating in Bangladesh to provide enhanced credit facilities to small/semi-micro farmers, low-income professionals affected by natural disasters, and rural/small businessmen.