Regulatory Alerts2020-04-26
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SMESPD Circular No. 02: Tk 10,000 Crore Refinance Scheme for CMSME Sector to Provide Working Capital Facility to Entrepreneurs
Bangladesh Bank establishes a Tk 10,000 crore refinance scheme with a three-year tenure and a 4% interest rate to provide working capital facilities to Cottage, Micro, Small, and Medium Enterprises (CMSME) affected by the coronavirus pandemic. Scheduled banks and financial institutions are authorized to receive refinance up to 50% of the credit/investment facilities they have disbursed under SMESPD Circular No. 01/2020, provided they adhere to specific application procedures and reporting requirements. The scheme mandates that funds be used exclusively for CMSME working capital, with repayment deducted from the institutions' current accounts and penalties applied for misuse or default.
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