Answer:
The
total amount of the loan facilities extendable to a Director or to his
relatives should not exceed 50% of the paid-up value of the shares of that bank
held in Director's own name.
Subject
to compliance of the conditions mentioned in paragraph No.1 above, loan
facilities in excess of Tk.50 lacs (including all direct or indirect loan
facilities such as bank loan, all types of contingent liabilities like Letter
of Credit and performance bond, bid bond or guarantee etc.) in favor of any
Director or his relatives or proprietorship or partnership firms and private or
public limited companies wherein those persons have interests, can be extended
obtaining no-objection from Bangladesh Bank. Besides, subject to the limit as
outlined above, if the amount of direct loans like
Cash Credit, Overdraft, LIM, Pre-shipment Credit, LTR etc. is more than Tk.10
lacs, no-objection from Bangladesh Bank is to be obtained.
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