Regulatory Alerts2020-08-27
Added · Updated
SFD Circular Letter No. 04: Refinance Scheme for Pre-Shipment Credit to Mitigate the Crisis due to Novel Corona Virus
Banks operating in Bangladesh must submit refinance applications under the Tk 5,000 crore pre-shipment credit scheme by entering into a Participation Agreement with the Sustainable Finance Department of Bangladesh Bank and providing specified annexes (Annex-E to I). Applications require weekly disbursement reporting, back-to-back LC-based raw material procurement, and timely export completion, with branch offices retaining supervision reports. The amendment replaces Paragraphs 3 and 4 of SFD Circular No. 01/2020, updates Annex-E and Annex-F, and takes immediate effect under Section 45 of the Bank Company Act, 1991.
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