Staff Correspondent: From now on, the loan of Tk 10 crore will be matched with the approval of the MD of the bank. Bangladesh Bank has issued such a circular and sent it to all the scheduled banks of the country.

A circular in this regard was issued on Thursday (December 10) by the Banking Regulation and Policy Department.

According to the circular, in case of transfer of profits against loans of Tk 5 crore or more but below Tk 10 crore (borrower based) to the account, it has to be approved by the chief executive or managing director of the bank with the recommendation of the branch head. In case of transfer of profits imposed on loans or investments (borrower based) of balance of Tk.

In case of transfer of interest or profit charged against a loan or investment of less than Tk. In view of the above, if the interest charged against a loan or investment is not transferred to the income sector, it should be transferred as interest suspension.

In case of preservation of specific provision against the loan, provision has to be made as per the provisions of classification and provisioning of loan by calculating the required provision. In case of preservation of general provision against loan, provision has to be made as per the provisions of classification and provisioning of loan / investment by calculating the required provision.