Industrial enterprises in specialised zones registered with Invest Bangladesh Authority will no longer need prior approval from Bangladesh Bank (BB) for medium- and long-term external borrowing, the central bank said.
The clarification came through a circular issued by BB’s Foreign Exchange Policy Department-1 on Monday, modifying a provision introduced through a circular issued on 2 September.
Under the revised instruction, only industrial enterprises in specialised zones that are not registered with Invest Bangladesh Authority will require approval from the central bank for medium- and long-term foreign borrowing.
BB said the clarification was issued to remove confusion over the earlier provision and informed all authorised dealers in foreign exchange to notify their clients.
The central bank also said loan proposals from companies formerly registered under economic zones would have to be submitted to the Scrutiny Committee on Foreign Loan/Supplier’s Credit of Invest Bangladesh Authority for review.
All other provisions of the 2 September circular will remain unchanged, BB said.
