Economic Reporter :
Bangladesh Bank (BB) has loosened short term foreign currency borrowing for Type “A “industries in Export Processing Zones (EPZs) and Economic Zones (EZs).
Under the relaxed rules, type A industries in EPZs and EZs are allowed to obtain short term foreign currency loans from overseas banks and financial institutions, according to a BB circular issued on Sunday.
“They (Type A industries) may access short term foreign currency loans from parent companies or shareholders abroad and other Type A subsidiaries or associates operating in EPZs or EZs,” the circular said.
In the context of such short term loans within subsidiaries or associates operating in EPZs or EZs, ADs shall, before transferring the fund, satisfy themselves that the fund is unencumbered, the circular added.
Bangladesh Bank (BB) has loosened short term foreign currency borrowing for Type “A “industries in Export Processing Zones (EPZs) and Economic Zones (EZs).
Under the relaxed rules, type A industries in EPZs and EZs are allowed to obtain short term foreign currency loans from overseas banks and financial institutions, according to a BB circular issued on Sunday.
“They (Type A industries) may access short term foreign currency loans from parent companies or shareholders abroad and other Type A subsidiaries or associates operating in EPZs or EZs,” the circular said.
In the context of such short term loans within subsidiaries or associates operating in EPZs or EZs, ADs shall, before transferring the fund, satisfy themselves that the fund is unencumbered, the circular added.
