In order to enhance the efficiency of offshore banking operations, a decision has been made to exempt banks engaged in offshore banking operations from the obligation to maintain a cash reserve ratio with the Bangladesh Bank. Additionally, offshore banking operations are now authorized to transfer funds to their domestic banking units without restrictions. This includes […]

VDB Loi ベトナムは、プロジェクトファイナンスガイドの最新版を発行いたしました。 本出版書では、ベトナムにおける国境を越えたプロジェクトファイナンスの実施に関連し、最も頻繁に提起される仕組みに関する質問をいくつか取り上げています: 事業会社設立の手続き、融資と担保の文書化、税金に関する問題など。

VDB Loi越南办公室发布了最新版本的项目融资指南。该指南概述了在越南实施跨境项目融资过程中最常遇到的结构性问题：公司架构、融资和担保文件、税务影响等方面的要点。

The Bank of the Lao PDR (“BOL”), aiming to improve and strengthen its foreign currency management and monitoring system, issued the Decision on Foreign Currency Management in Connection with Foreign Direct Investment No. 1225/BOL dated 21 December 2023 (“Decision 1225”). Under the decision, foreign investors are required to open a foreign direct investment bank account […]

VDB Loi Vietnam has issued an updated version of the Project Finance Guide.   The overview covers some of the most frequently raised structuring queries relating to implementation of cross-border project financings in Vietnam: corporate arrangements, finance and security documentation, tax implications. Please contact Ms. Le Thi Thanh Thuy at [email protected] to request a full […]

Until further instructions, the following procedure must be followed for financial and regulatory reporting of the Government of Bangladesh Special Purpose Bonds issued to various banking Institutions for subsidies on fertilizer and electricity:

Under this circular, the Bangladesh Bank is directing financial institutions to establish revenue accounts in the name of funded projects to ensure effective loan repayment and proper monitoring. The impetus for this was that the Bangladesh Bank found that some borrowers were not depositing their project earnings or sales proceeds with their respective banks. This […]

The Bangladesh Bank is incorporating the Chinese Yuan (“CNY”) into its real-time gross settlement (“RTGS”) system. Presently, the RTGS system facilitates clearing and settlement in five foreign currencies—namely the US dollar, the British pound, the euro, the Canadian dollar, and the Japanese yen. Starting from 4 February 2024, the clearing and settlement processes for the […]

On 25 December 2023, the Central Bank of Myanmar (“CBM”) issued Notification No. 27/2023 to reduce the time frame for the inbound remittance of export earnings. Previously, under Notification 27/2022 dated 6 May 2022, the CBM required that export earnings from goods exported to Asian countries be deposited into exporters’ bank accounts within 45 days, […]

On 5 December 2023, the Central Bank of Myanmar (“CBM”) announced, through its letter no. 1/2937 (“Letter 1/2937”), that it will no longer determine the foreign exchange rate on foreign currency transactions made through authorized dealer (“AD”) banks via the foreign exchange online trading system. Consequently, sellers and buyers are now free to determine the […]

In a move to enhance offshore banking in Bangladesh, scheduled commercial banks can now actively participate in offshore banking operations (OBOs) by obtaining approval from the Bangladesh Bank. The comprehensive guidelines, approval procedures, and operational protocols for OBOs, including the acceptance of foreign currency (FC) deposits, are meticulously outlined in BRPD Circular No-02  dated 25 […]

In Bangladesh, securing a loan from a bank typically requires providing collateral, with immovable property being the preferred and most secure form of security. However, challenges arise when banks consider other movable assets as collateral. This legislation aims to address these issues by streamlining lending using movable property as collateral and establishing legal protections for […]

The circular underscores the imperative for prompt action in resolving ongoing cases in the Artha Rin Adalat or money loan court. It underscores the legal responsibility outlined in the Money Loan Courts Act of 2003 to accelerate the adjudication of money-lending cases within a stipulated timeframe. Recent assessments by the Bangladesh Bank reveal substantial delays […]

On 30 August 2023, the new Commercial Bank Law (Amendment) No. 39/NA dated 17 July 2023 (the “New Bank Law”) was promulgated by the Prime Minister of the Lao PDR, and on 13 October 2023, it was published in the Lao Official Gazette. The New Bank Law aims to set out the different categories of […]

In an effort to reduce the shortage of foreign currency, the Bangladesh Bank issued a directive to banks, instructing them to distribute remittances to recipients within a maximum of two days from when they are received from overseas senders. Although this rule has been in force since 2014, the Bangladesh Bank recently found a lack […]

Aiming to address emerging legal complexities in loan recovery procedures, the Bangladesh Bank has published a new circular that makes it compulsory for banks to take thumbprints to ensure the proper recovery of depositors’ money. Individuals seeking loans from banks will now be obligated to furnish specific charge documents, contingent upon their borrower status, loan […]

In a concerted effort to enhance the efficiency and precision of reporting freight charges for both exports and imports, the Bangladesh Bank has issued a circular mandating a shift towards a digital approach for this process. The directive applies to all ADs, airlines, shipping companies, licensed freight forwarders, and general sales agents operating within Bangladesh. […]

The circular urges authorized dealers (“ADs”) in foreign exchange to establish an online platform for the convenience of non-resident Bangladeshis (“NRBs”) to open and manage non-resident investor taka accounts (“NITAs”). The circular underscores the significance of boosting foreign investment in Bangladesh and provides clear directives to ADs on creating a user-friendly digital interface to streamline […]

In a concerted effort to recover bad debts and alleviate the burden of classified loans, the Bangladesh Bank has taken measures to ease the loan rescheduling process for the country’s shipbuilding industry. This initiative is aimed at facilitating smoother repayment processes. Under the newly relaxed policy, non-bank financial institutions will now have the option to […]

To enhance the country’s export trade, the government has taken the initiative to offer export incentives or cash assistance for the export of 43 specific products during the current financial year 2023-24 (1 July 2023 to 30 June 2024). Exporters will be eligible to receive cash incentives ranging from 1% to 20%, similar to what […]