The Bangladesh Bank (BB) has issued prudential guidelines for consumer financing and small enterprise financing to protect the interest of depositors, official sources said.
The guidelines aim at bringing uniformity in consumer credit policies and discipline in financing of small and medium enterprises by commercial banks.
The central bank has directed all the scheduled banks to implement the prudential guidelines by December 31, 2004 and submit a compliance report to the Banking Regulation and Policy Department (BRPD) of the BB by 15 January 2005, the sources added.
The BB will also monitor the progress of implementation of the guidelines through routine inspection, the sources noted.
Sources said the BB issued a circular Wednesday and asked chief executives of the banks to follow the guidelines for operation of consumer credits including credit card and small and medium enterprises (SMEs) properly.
