Regulatory Alerts2019-12-19
Added · Updated
SMESPD Circular Letter No. 01: Compliance of the directions related to considering Personal Guarantee as Supplementary Collateral
The document instructs scheduled banks and financial institutions in Bangladesh to strictly comply with Master Circular No. 2 regarding the acceptance of personal guarantees as supplementary collateral for micro-enterprise loans. It explicitly prohibits these institutions from pressuring or forcing micro-entrepreneurs to provide guarantees from multiple or specific individuals, such as senior officials, wealthy relatives, or spouses. This directive aims to prevent barriers to credit access and hindered development in the micro-enterprise sector.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share