The Foreign Exchange Policy Department of Bangladesh Bank, Dhaka has issued a circular No. 02 Date: February 01, 2023 to all Authorized Dealers in Foreign Exchange in Bangladesh. This is reproduced below:
|Interest rate increased on borrowing from Export Development Fund (EPF)
Please refer to paragraph 2 of FE Circular No. 30, dated November 08, 2022 in terms of which interest on EDF loan disbursements to Authorized Dealers (ADs) was charged by Bangladesh Bank at 2.50% pa, with the ADs charging at 4.00% pa on their USD loan disbursements to manufacturer-exporters.
It has been decided that interest rate on EDF loans to ADs will be charged by Bangladesh Bank at 3.00% pa, while ADs will charge interest to manufacturer-exporters at 4.50% pa; for disbursements until further instructions.
Other relevant instructions on EDF shall remain unchanged. Please bring the contents of this circular to the notice of your relevant customers.
(Md. Sarwar Hossain)