Business Desk :
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 on Sunday.
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.
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 on Sunday.
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.
