Regulatory Alerts2015-06-18
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GBCSRD Circular Letter No. 07: Regarding Opening 10 Taka Account for Small/Marginal/Landless/Natural Disaster Affected Farmers and Small or Micro Traders
The Green Banking and CSR Department of Bangladesh Bank directs all scheduled banks operating in Bangladesh to take immediate action to facilitate the opening of 10 Taka bank accounts for small, marginal, landless, and natural disaster-affected farmers, low-income professionals, and small or micro traders. This directive addresses the lack of enthusiasm among some banks to open these accounts, which has hindered the distribution of loans from the 200 Crore Taka Revolving Fund (Jaba-Removable Fund). Banks are instructed to strictly follow the guidelines set out in Circular Letter No. 01/2014, which mandates that applicants for loan facilities under this scheme must maintain a minimum 10 Taka account.
GBCSRD Circular Letter No. 07
June 18, 2015 GBCSRD Circular Letter No.: 07/2015 Date: ----------------- Ashar 04, 1422
Managing Director / Chief Executive All Scheduled Banks Operating in Bangladesh
Dear Sir,
Reference is made to GBCSRD Circular Letter No.: 01/2014, dated May 14, 2014, of the Green Banking and CSR Department, under the authority of Bangladesh Bank, regarding the opening of 10 Taka bank accounts for small/marginal/landless farmers, natural disaster affected low-income professionals, and small or micro traders.
It is noted that in paragraph 2.1 of the aforementioned circular, the following instruction was given: 'Applicants seeking loan facilities under this scheme must mandatorily have a minimum 10 Taka account.' It has been observed that some banks have shown less interest in opening 10 Taka accounts for people in various professions mentioned in paragraphs 2.1-2.5 of the circular. Consequently, the distribution of loans from the 200 Crore Taka Revolving Fund (Jaba-Removable Fund) is being hindered.
In this regard, it is advised that banks strictly follow the instructions of the aforementioned circular and take necessary and urgent measures to expedite the work of opening 10 Taka accounts.
(Manoj Kumar Biswas) General Manager Phone: 9530320
Copy to: Director. Narsing@bb.org.bd ms.mnp@bb.org.bd
Green Banking and CSR Department Bangladesh Bank Head Office, Dhaka P.O. Box No.: 325