Under the Corona Financial Incentive Package, banks will not need to complete internal credit risk rating as per the central bank guidelines so that the businesses can resume work fast.
Banks will be able to provide loan, investment benefits without completing customer rating activities, Bangladesh Bank said on Sunday.
The information was given in a circular issued by the Banking Regulation and Policy Department (BRPD) of the central bank.
The circular has been sent to the Managing Directors, CEOs of all Scheduled Banks and Financial Institutions operating in Bangladesh.
However, each bank will select customers on the basis of banker-customer relationship by analyzing the loan risk under the existing own policy.
When asked, former finance adviser Dr AB Miza Azizul Islam said that Bangladesh Bank had no option but to relax the strict rules of credit rating due to coronavirus pandemic. But banks should carry out their own investigation on potential borrowers, he opined.
