Md Joynal Abedin Khan
Classification of loan would not be changed until June 30 this year even if anyone failed to pay back the loan as per the time-frame before March 31.
Bangladesh Bank on Tuesday extended its relaxed conditions for loan repayment till June taking into consideration the impact of coronavirus on the country’s trade and business. The facilities were applicable until December 31.
According to the new guidelines, borrowers would not be considered as a defaulter even if they did not pay any installment till March this year. No penalty, interest or additional fee (whatever the name may be) may be levied on the loan or investment during this period.
The central banks also asked the financial institutions not to classify their clients as defaulter or bad customers for not paying the loan premium during time-frame of the central bank.
The BB on Tuesday issued a circular signed by its general manager Mohammad Zulkar Nayn in this regard.
Rational rebate facility could be provided by the bank to encourage the customers to repay the term loan (including short term agricultural loan and micro loan) in installments voluntarily and to repay the loan, said the BB circular.
BB thought that many loan recipients might not be able to repay their loans as per the schedule, the circular said.
