NBFIs cost of fund up slightly

Dhaka,  Sat,  23 September 2017
Published : 18 Jun 2017, 14:44:45 | Updated : 18 Jun 2017, 14:50:28

NBFIs cost of fund up slightly

FE Online Report
Cost of funds of the Non-Bank Financial Institutions (NBFIs) increased marginally in April this year, according to the latest statistics of Bangladesh.

The Cost of Funds Index (CoFI) of the NBFIs stood at 7.63 points in April which was 7.53 points in March this year. 

According to the central bank, cost of funds is the weighted average interest rate of the interest-bearing liabilities of a non bank financial institution. 

CoFI reflects the weighted average interest rate reported for a given month by the non bank financial institutions. It also serves as the reference rate for pricing the variable interest loan products. 

In setting the variable interest rate of a new loan, NBFIs will add margin to the industry CoFI or Adjusted CoFI. 

The adjusted CoFI stood at 8.31 points in April which was 8.30 in March.

Bangladesh Bank issued guidelines on the Base Rate System for the NBFIs through DFIM Circular No.-06, dated- 20 August 2013.

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