Home ›› 29 Jun 2022 ›› Front
After banks, the Bangladesh Bank has now extended loan moratorium facilities also for non-bank financial institution (NBFI) borrowers till December this year.
Such borrowers can protect themselves against defaults by repaying half of the instalment per quarter of the current year, said the central bank’s Department of Financial Institutions and Markets in a circular on Tuesday.
No penalty interest or additional charge would be imposed on repayments between April 1 and December 31, it said.
Last year, NBFI borrowers were able to protect themselves against defaults by paying 25 per cent of the instalment per quarter. Tuesday’s circular said the facility had been given due to the recent upward trend in Covid-19 infections as well as floods that had wreaked havoc in the north and northeast regions.
It said loans would remain unclassified if 50 per cent of the instalments were paid within the last working day of each quarter. Agricultural loan clients will enjoy this facility as well.
However, in the case of borrowers actually affected by the pandemic or floods, repayments could be delayed based on their relationship with the NBFIs. In that case, the NBFIs have to identify the affected customers on their own.
In case of failure to repay instalments within the last working day of each quarter, loans would be classified and the NBFIs would have to inform the Credit Information Bureau, the circular added.
Another circular of the central bank on Tuesday said the chairmen or board members of the NBFIs could remain the chairmen or directors or members of the associate organisations or subsidiaries of those NBFIs till December 31 this year.
Earlier, the central bank said they would not be allowed to hold these positions. Such people were ordered to resign by June 30 this year.
