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No extra charge if debtors pay 50pc loan premium by August: BB

Staff Correspondent
05 Jul 2021 19:31:21 | Update: 05 Jul 2021 20:37:46
No extra charge if debtors pay 50pc loan premium by August: BB

The Bangladesh Bank has instructed financial institutions not to impose extra charge if borrowers pay a 50 per cent premium within August this year.

The financial institutes were asked not to classify the loans as moratorium if debtors pay half of their premiums within this time.

The instructions were issued in a circular considering the negative impact of the latest surge of Covid-19 on the economy.

It said the rest of the amount can be paid with the next premium. 

The financial institutes have been asked to show the interest against the respective accounts as revenue after realising the money from debtors.

Earlier, the central bank issued a circular extending the time for debtors to pay premiums against loans from March to June 30, 2021.

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