BB eases borrowing rules for A type industries in EPZs, EZs

Bangladesh Bank (BB) has loosened short term foreign currency borrowing for Type “A “industries in Export Processing Zones (EPZs) and Economic Zones (EZs), reports BSS.
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 subsidi-aries or associates operating in EPZs or EZs, ADs shall, before transferring the fund, satisfy themselves that the fund is unencumbered, the circular added.

 

BB eases borrowing rules for A type industries in EPZs, EZs

Bangladesh Bank (BB) has loosened short term foreign currency borrowing for Type A industries in Export Processing Zones (EPZs) and Economic Zones (EZs), reports BSS. Under the relaxed rules, type A industries in EPZs and EZs are allowed to obtain short term foreign currency loans from overseas banksand 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 subsidi-aries or associates operating in EPZsor EZs, ADs shall, beforetransferring the fund, satisfy themselves that the fundis unencumbered, the circular added.