Home ›› 05 Oct 2021 ›› Front
Loan defaulters, who were granted the special loan rescheduling facility or the one-time exit facility on easy terms, will be allowed to pay back loans till December 31 considering the second wave of the Covid-19 pandemic.
The central bank issued a notice in this regard on Monday, saying such defaulters would be able to repay their loans, which were due between January 1 and December 31 last year.
Previously, June was the deadline for enjoying the facility.
The central bank made the decision considering the second wave of the pandemic, said one of its high officials.
As per a directive of the government, the Bangladesh Bank in 2019 introduced the special loan rescheduling facility or the one-time exit facility for defaulters to reduce the high amount of non-performing loans.
On May 16 that year, defaulters were allowed a 10-year loan repayment period, including a one-year grace period, by repaying 2 per cent of their loans as a down payment.
The central bank also allowed settlement of default loans under the one-time exit scheme that enables defaulters to enjoy interest waivers for the preceding settlement period.
The business community has long been requesting the finance ministry and the Bangladesh Bank to extend repayment deadline amid Covid-19.
