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Search date: 05-05-2019 Return to current date: Click here

BB asks banks to ensure block account facility for jute sector

May 05, 2019 00:00:00


Bangladesh Bank has asked all the scheduled banks to ensure implementation of block account facility introduced earlier for saving the jute sector. The central bank issued a fresh circular on Thursday last as the facility mostly remained unutilised since introduction of the facility on December 03, 2018 in accordance with a letter from the Financial Institutions Division (FID). The BB also directed the financial institutions to submit a progress report till June 30 within next one month. As per the FID letter, millers and jute goods producers especially Bangladesh Jute Mills Corporation (BJMC), Bangladesh Jute Mills Association (BJMA) and Bangladesh Jute Spinners Association (BJSA) will be the beneficiaries of fresh block account.

— FE Report


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