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The Financial Express

Authorised dealers can give loan in Taka to Type-C units of EPZs

| Updated: March 12, 2021 20:28:47


- Picture used for illustrative purpose - Picture used for illustrative purpose

The Authorised Dealers (ADs) have been allowed to extend loan facilities to the Type-C industries of the Export Processing Zones (EPZs) in Taka, as admissible to such industries outside the EPZs.

Such facilities are available to the Type-C industries operating in the Economic Zones (EZs) and High-Tech Parks (HTPs) as per relevant provisions of the previous instruction of the central bank.

The Bangladesh Bank (BB) issued a circular to this effect on Wednesday.

The ADs are able to grant loans in Taka to the Type-B industries operating in the above-mentioned zones as per the relevant instructions, said the BB circular.

The Type-A industries can avail foreign currency loans from admissible sources, it added.

Industries operating in different zones are eligible to get access to finance in Taka from stimulus packages as per the circulars issued by the central bank in October 2020.

"This is to clarify that these circular letters will be considered to have been issued in terms of Section 18(2) of the Foreign Exchange Regulation Act 1947 (amended up to 2015)," the BB circular mentioned.

It further said: "Hence, the Type-A and Type-B industries operating in different zones may get access to finance in Taka from the stimulus packages concerned. Likewise, the Type-C industries will be eligible for financing in Taka from the stimulus packages as admissible to such industries outside the zone areas." Other relevant instructions in this regard will remain unchanged, it added.

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