Regulatory Alerts2024-11-06
Added
SFD Circular No. 02: Green Finance and Sustainable Finance Target and Achievement
Scheduled banks and finance companies operating in Bangladesh must set annual targets for green and sustainable finance at minimum 5% and 40% respectively of the net loan and advance position as of December 31 of the previous year. These targets must not be lower than the previous year's targets and must be submitted by the last working day of January each year, starting from 2025, using the prescribed format in Annexure-1. Compliance with these programs will be considered during the assessment of the banks' and companies' CAMEL ratings. The directive is issued under Section 45 of the Bank Company Act, 1991, and Section 41(2)(d) of the Finance Company Act, 2023, and takes immediate effect.