Regulatory Alerts2014-10-09
Added · Updated
SMESPD Circular No. 02: Formation of Refinance Fund to Support Islamic Shariah-based Financing to Agro-based Industry, Small Enterprise (including Women Entrepreneurs) and New Entrepreneurs in Cottage, Micro and Small Enterprise Sector
Bangladesh Bank establishes a refinance fund for Islamic Shariah-based banks and financial institutions to provide refinancing for investments in agro-based industries, small enterprises (with priority for women entrepreneurs), and new entrepreneurs in the cottage, micro, and small enterprise sectors. The circular sets specific eligibility criteria, including investment limits of up to 100% refinancing for agro-based industries and small enterprises, and up to 10 lakh BDT for unsecured and 25 lakh BDT for secured investments for new entrepreneurs. It mandates participation agreements, adherence to risk management guidelines, quarterly refinancing payments, and specific training and mentorship requirements for approved entrepreneur development institutions.
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