Thursday, 23 September, 2021

BB reviews NBFIs financial report’s submission policy

  • Staff Correspondent
  • 27 July, 2021 12:00 AM
  • Print news

Bangladesh Bank has reviewed the submission of updated financial report of non-bank financial institutions (NBFIs) on a quarterly basis.

The central bank has issued a master circular in this regard on Monday after revising different rules and regulations with up gradation policy of loan or lease classification.

The BB has provided a specific format to the NBFIs for adding details of short term loan/ lease financing/ housing loan/ subsidiary or sister concern/ broker houses/ merchant banks/ stock dealers and Islamic Sharia based investment and their latest position. According to the BB instruction, the NBFIs have to submit their report of loan or investment on a quarterly basis to the central bank by March 31, June 30, September 30 and December 31.

Department of Financial Institutions and Markets (DFIM) of BB issued the master circular to bring all kinds of loans and investment under strong monitoring and supervision.

The circular has prescribed the definition of different loans, their terms and definition of loan classification in order to bring all the loans under specific category, an official DFIM said.

As a result, within a short time BB can find out which loans’ installment are not realising regularly and who are becoming defaulter, sources said.