Regulatory Alerts2014-03-11
Added · Updated
Term lending in Taka to foreign owned or controlled companies in Bangladesh
Foreign owned or controlled companies engaged in manufacturing or services output activities in Bangladesh for three years or longer may now access Taka term loans from the domestic market regardless of local content in their equity. This change lifts previous restrictions that limited admissibility to the percentage of local content in the company’s equity. Banks and financial institutions must adhere to all applicable credit norms and prudential parameters, including single borrower exposure limits and debt-equity ratios, when providing these loans. Lenders are required to report their term lending to foreign owned or controlled institutions post facto to the General Manager, Foreign Exchange Investment Department, Bangladesh Bank head office using the prescribed proforma.
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.