Central bank caps spending on cars
Posted by on Tue, Jul 17 2012 08:03 am
Banks and non-bank financial institutions will not be allowed to spend more than Tk 35 lakh to buy cars and more than Tk 50 lakh to buy Jeeps from its own funds, the central bank said yesterday.
However, they can spend up to Tk 85 lakh if they buy Jeeps from the state-run Progoti Industries Ltd, the state-owned automobiles assembly factory, according to a notice by Bangladesh Bank.
The decision, which aims to cut extravagant spending on cars, has already come into effect.
The Daily Star/Bangladesh/ 17th July 2012
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