Bangladesh Bank (BB) today tightened credit to rice traders, millers and hoarders for ensuring
adequate supply of rice to the market and bringing down the price at consumers’ comfort level. The central bank in a circular today directed all the banks to adjust the advances to the rice millers and traders in 30 days from disbursements.
Currently, rice millers are allowed to adjust their advances in the form of revolving CC [cash credit] and OD [over draft] in 45 days when the rice traders get 30 days.
The new directive will force millers to sell rice sooner to adjust the loan, which will eventually help increase supply of rice to market, said a BB official.
The BB also issued two more circulars today, one of which limited the ratio of car loan to 50:50.
The other circular made import of equipment for effluent treatment facility (ETF) mandatory for opening letters of credit (LC) for setting up new industries.
It also asked all the banks not to provide existing industries working capitals if they do not have effective effluent treatment facility.
The central bank also directed the banks to consider EFT before financing any industry of BMRE of an existing one.

Source: The Independent 

Bangladesh Bank (BB) has directed commercial banks to provide loans for installing solar panels in residential, commercial and industrial buildings.

The BB sent a circular to the banks yesterday, asking them to come up with a scheme under which borrowers will get such loans at a 10 percent interest rate. The central bank said the banks can fix as high as 10 years as deadline for repayment.

Source: The Daily Star

Home loans for members of the central bank staff have been raised by 92 percent in view of an increase in the prices of land and construction materials.

Bangladesh Bank (BB) approved the proposal yesterday.

Such loans for officials on the highest salary scale has been raised by 87 percent to Tk 60 lakh. The present ceiling is Tk 32 lakh.

For the lowest tier, the ceiling has been increased by 92 percent to Tk 25 lakh. The present ceiling for the staff of this level is Tk 13 lakh.

The Home loans are given to the central bank staff in five categories.

Source: The Daily Star

Dhaka, Dec 27: United Commercial Bank Limited (UCB) opened its 104th branch at Tejgaon, Dhaka on Monday. The Chairman of UCB M A Hashem inaugurated the new branch as the Chief Guest. Vice-Chairman of the bank Kazi Enamul Hoque and Director Qamrun Nahar were also present in the opening ceremony.

The Managing Director of the Bank,  M. Shahjahan Bhuiyan, Additional Managing Director and Deputy Managing Directors: Mr. Mirza Mahmud Rafiqur Rahman, Shahed Jalal Chowdhury and distinguished guests were also present in the ceremony. 
The inauguration was preceded by a special “Doa Mehfil” inside the branch premises.

Source: The Independen

The central bank has detected a case of sending a fake circular to different banks using the name of Bangladesh Bank. The central bank has alerted the banks to the fraud case.

The fake circular “directed” the banks to take the subscription fees paid to international news agency Reuters by different local news agencies, in local currency instead of foreign currency.

It also said the "chief executive officer" (CEO) of Reuters in Bangladesh and the BB entered into an agreement that the fees against the services of the international news agency should be paid in local currency.

The circular also said if the banks did not comply with the directive, action would be taken against them under anti-money laundering law.

The fake circular, issued on December 9, was sent to different banks by courier.

As the circular raised suspicion among the officials of the private banks, an official brought the matter to the notice of the central bank yesterday.

Bangladesh Bank Governor Atiur Rahman held a meeting with the high officials of the BB and directed them to take necessary steps, an official said.

SK Sur Chowdhury, executive director of the central bank, told The Daily Star that it is a "unique way" of cheating.

He said the central bank informed the banks yesterday that it was a fake circular and directed them to check with the Bangladesh Bank website if they receive any circular in future.

The central bank also informed the intelligence agencies to investigate the matter and find out who are involved with the forgery.

Contacted, an official of the Reuters Bangladesh office said the news agency does not have a CEO post in Dhaka, and there is no scope for such agreement.

Source: The Dailystar