Regulatory Alerts2016-05-11
Added · Updated
SFD Circular No. 01: Environmental Initiatives in Establishment Construction and Business Centre Expansion as well as Utilization of Climate Risk Fund by Banks and FIs
All scheduled banks and financial institutions must implement green building practices, rainwater harvesting, and solar power panels in all new constructions and existing branches by December 31, 2018 (or December 31, 2020 for state-owned banks). Lenders must verify the installation of these environmental features in new establishments of borrowers and grant recipients before approving loans or grants. Banks may provide grants or concessional loans to government educational institutions, hospitals, and non-profit organizations for such installations, with these contributions counted towards the Climate Risk Fund.