Section 31Loans in foreign currency

s. 31

31. Loans in foreign currency (1) For the purpose of granting a loan to an individual or a company in foreign currency, the Corporation may, with the previous consent of the Government [* * *], borrow any such currency from the International Bank for Reconstruction and Development or from other sources, and may pledge, mortgage, hypothecate or assign to the said Bank or other lender all or any part of the security taken by the Corporation for the loan granted in foreign currencies. (2) All loans granted in foreign currency shall be repayable either- (a) in the currency in which they are granted, or (b) in [Bangladesh] currency at the rate of exchange prevailing on the date of repayment.

1. 11. The word “Bangladesh” was substituted for the word “Pakistan” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)