Economic Reporter :
Bangladesh Bank (BB) has asked the chief executives of all scheduled banks to keep 2 percent general provision instead of the existing 5 percent against unclassified credit card loans under consumer financing.
“Banks will be required to maintain 2 percent general provision against all unclassified credit card loans under consumer financing,” said a BB circular on Sunday.
With a view to promoting cashless secured transaction and considering the cost of operation of the credit card business, the above instruction regarding general provision against unclassified credit card loans under consumer financing has been revised, the circular added.
Bangladesh Bank (BB) has asked the chief executives of all scheduled banks to keep 2 percent general provision instead of the existing 5 percent against unclassified credit card loans under consumer financing.
“Banks will be required to maintain 2 percent general provision against all unclassified credit card loans under consumer financing,” said a BB circular on Sunday.
With a view to promoting cashless secured transaction and considering the cost of operation of the credit card business, the above instruction regarding general provision against unclassified credit card loans under consumer financing has been revised, the circular added.
