Regulatory Alerts2022-01-18
Added
PSD Circular No. 01: Guidelines for Local Factoring/Receivable Financing through Digital Platform - Pilot Phase
All scheduled banks and financial institutions are advised to follow the Guidelines for Local Factoring/Receivable Financing through Digital Platform - Pilot Phase, which facilitates automated financing against trade receivables for Micro, Small and Medium Enterprises (MSMEs). ThinkBig Solutions Ltd. is authorized to operate the pilot platform for one year, effective immediately. During this pilot, investment limits are set, including a maximum of BDT 5 crore per single investor to a single corporate buyer, BDT 20 crore per single investor, BDT 25 lakh per single factoring transaction, and BDT 1 crore per single MSME seller. Additionally, the platform provider must furnish a BDT 1 crore bank guarantee to Bangladesh Bank.