Banks asked not to charge borrowers interest for April, May

The central bank has asked banks in the country not to charge borrowers interest for the months of April and May.

As a result borrowers will not be required to pay the interest amount for these two months against their existing loans or investments with any bank, said a Bangladesh Bank circular on Sunday.

The central bank instructed all banks to suspend the interest amount for those two months on all kind of loans or investments considering the inconvenient situation for Covid-19. 

Banks have to transfer the suspended amount to an interest free blocked account for the time being and not to show it in its income account.