Regulatory Alerts2021-04-12
Added
SMESPD Circular Letter No. 03: Extension of Implementation Deadline for Special Loan/Investment Facility of BDT 20,000 Crore for CMSME Sector Affected by COVID-19
The implementation deadline for the first phase (first year) of the special loan and investment facility package of BDT 20,000 crore for the CMSME sector is extended to June 30, 2021. This adjustment follows an analysis showing that only 72.31% of the target amount had been disbursed by March 31, 2021. The directive is issued under the powers granted by Section 45 of the Bank Companies Act, 1991, and Section 18 of the Financial Institutions Act, 1993, and takes immediate effect.
Bangladesh Bank Head Office Motijheel, Dhaka-1000 Bangladesh.
SMESPD Circular Letter No. 03 Date: Chaitra 29, 1427 April 12, 2021
To: Managing Director/Chief Executive Officer All Scheduled Banks and Financial Institutions operating in Bangladesh
Subject: Special loan/investment facility of BDT 20,000 crore provided to CMSME sector affected by Novel Corona Virus (COVID-19) pandemic.
Reference is drawn to your attention to SMESPD Circular No. 01 dated April 13, 2020, and SMESPD Circular Letter No. 01 dated January 03, 2021, on the subject cited above.
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An analysis of information received from banks and financial institutions reveals that only 72.31% has been distributed against the target set by March 31, 2021. In this regard, to ensure the full implementation of the discussed package, the time limit for the implementation of the first phase (1st year) of the stimulus package is extended to June 30, 2021.
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In addition, other instructions mentioned in the said circular and circular letter will remain unchanged.
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This directive is issued under the powers granted by Section 45 of the Bank Companies Act, 1991, and Section 18 of the Financial Institutions Act, 1993.
This directive will take effect immediately.
Yours faithfully,
(Husne Ara Shikha) General Manager Phone: 9530502