FBCCI president urges BB governor to extend loan moratorium

The President of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Md Jasim Uddin on Wednesday met with the Governor of Bangladesh Bank Fazle Kabir held a meeting at the latter's office.

The two discussed matters of extending loan moratorium and loan classification in the meeting, said a press release issued by FBCCI on Wednesday.

The FBCCI president said that due to the ongoing Covid situation, most industries and businesses are finding it difficult to repay bank loan instalments on time.

Many business establishments will become unintentional defaulters if the time limit for repaying loans is not extended, he said.

This will severely disrupt production and business activities and the entire economy, including the banking sector, would collapse, he feared.

Jasim Uddin thanked Fazle Kabir for the central bank's decision to extend loan classification period to 31 August 2021 and for providing other policy support

However, the FBCCI president requested to extend the period further to December 31, 2021.

He also sought the cooperation of Bangladesh Bank in the development of small and cottage industries and SME sector in the country.