ZCZC
BSS-20
BB-FOREIGN-LOAN
BB relaxes loan policy for foreign-owned companies in Bangladesh
DHAKA, May 3, 2020 (BSS) – Bangladesh Bank (BB) has relaxed regulations
for foreign owned or controlled companies operating in Bangladesh to get
short-term working capital loans from their parent companies or shareholders
abroad.
“Given the prevailing COVID-19 pandemic related disruptions, it has been
decided that foreign owned or controlled companies operating in Bangladesh
irrespective of sectors may access short-term working capital loans, for the
tenure of one year extendable to another one year, from their parent
companies or shareholders abroad,” said a BB circular issued here today.
The foreign owned or controlled companies can take the loan to meet actual
needs for payments of three-month wages and salary to staff regardless of
their length of engagement in manufacturing or services output activities.
Other relevant instructions regarding the transactions shall remain
unchanged, the circular added.
BSS/KUC/GA/1645 hrs