• Sunday, Feb 28, 2021
  • Last Update : 12:26 pm

BB eases accessing foreign loans by foreign companies

  • Published at 11:52 pm January 19th, 2021
WEB_Loan
Representational image Bigstock

Foreign-owned service companies can now avail short-term loans as working capital from their parent companies and shareholders

The Bangladesh Bank has brought further flexibility in accessing foreign loans by the foreign-owned companies operating in Bangladesh.

The foreign-owned service companies can now avail short-term loans as working capital from their parent companies and shareholders for emergency business needs, according to a notice issued by the central bank’s Foreign Exchange Policy Department (FEPD).

Earlier, such loans were applicable only for foreign-owned industrial enterprises engaged in manufacturing activities. No service or trading companies were allowed take such loans.

But now service companies can take such loans, too.

The central bank also said that such loan may be admissible in convertible foreign currencies for six years at most from the date of inception of manufacturing and or service output activities with options to renew or extend the tenure within the applicable period.

Borrowing enterprises may pay interest at the rate of 3 percent per annum at most until further directives, the BB said, adding that the other relevant instructions regarding transactions will remain unchanged.

65
Facebook 60
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail