May 20, 2022
The Manager
**** Bank Ltd.
Principal Branch
Motijheel C/A
Dhaka -1000
Dear Sir,
Sub: Request for enhancement of Composite Investment (Working Capital) limit from Tk.80.00 Only to Tk.100.00 Crore.
Reference to the above, we like to inform you that we are one of the renowned 100% Export Oriented Yarn Manufacturing Industry availing the Working Capital Credit Facilities from your Bank since 20, March 2011 with satisfaction. Our present Working Capital Facilities vide sanction letter – no-**** dated 20.10.2022.
Meanwhile, the price of raw materials has been increased (double) in the world market. Existing sanction reference-no**** dated **** at that duration Raw materials Price was $0.8090 /Lbs Vide L/C. No.**** dated 08.03.2020 and recent we open L/C. at your bank vide L/C. No.**** dated 15.03.2022 rate $1.5056/Lbs and also added that international market current price of Raw materials is $1.77 /Lbs for new contract. It is very difficult to continue the same volume of business with this present sanction facilities limit.
Please also be noted that BRPD Circular No.07 dated 27 April 2022 (Copy attached). We would like to request for enhancement of working capital facilities comprising the bellow. Please note that our sister concern Corporate practice bd Ltd. will also avail the credit facilities as before within the scope of this working credit facilities as and when necessary.
|
Type of Credit facility |
Existing Limit (BDT) |
Proposed Limit (BDT) |
Remarks |
|
Murabaha Sight /DP L/C (with UPAS/EDF facility) |
***** Crore |
*****Crore |
Exclusively for Corporate practice bd LTD. |
|
Murabaha Post Import TR (Revolving) |
***** Crore |
*****Crore |
|
|
Bai Muajjal Commercial TR (Revolving) |
**** Crore |
***** Crore |
Your immediate action and co-operation will highly be appreciated.
Thanking You,
*************
Managing Director