Utility NOC mandatory for industrial NBFI loans

Bangladesh Bank today informed that non-bank financial institutions (NBFIs) would not be able to approve loans to new industries which have not obtained no-objection certificates from authorities concerned of their respective electricity and gas suppliers.

The decision was taken at a cabinet committee meeting on February 7 this year, said the central bank.

The meeting had also decided that electricity and gas connections would not be provided to industrial establishments which are being planned to be set up outside of economic or industrial zones.

The same directive was earlier issued for commercial banks.