MPD Circular No. 06: Re-fixation of Bank Rate

The Bank Rate is reduced by 100 basis points from 5.00% to 4.00% to align with the recently announced policy on the compounding of interest/profit rates on loans/investments. This directive is issued under Section 21 of the Bangladesh Bank Order, 1972 (as amended up to 2003) and becomes effective from the date of the order. It applies to all scheduled bank companies operating in Bangladesh.

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Bangladesh Bank
Chief Executive Office
Motijheel, Dhaka - 1000
Bangladesh
Monetary Policy Department
General
MPD Circular No. 06
Date:
July 29, 2020
Shrawan 14, 1427

Managing Director/Chief Executive
All Scheduled Banks Operating in Bangladesh

Subject: Regarding the change in Bank Rate.

Dear Sir/Madam,

Reference is drawn to your attention to BRPD Circular No. 21 dated November 06, 2003, on the subject cited above.

In order to maintain consistency with the recently announced policy on the compounding of interest/profit rates on loans/investments, the Bank Rate has been re-fixed at 4.00%, reduced by 100 basis points from the existing 5.00%.

This directive is issued under the powers conferred by Section 21 of the Bangladesh Bank Order, 1972 (as amended up to 2003), and shall be effective from the date of the directive.

Yours faithfully,

(Md. Zulhas Uddin)
Deputy General Manager
Phone: 9530059

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Lineage: In force

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MPD Circular No. 06: Re-fixation of Bank Rate

Lineage: In force

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