Flexible loan repayment facility for non-bank borrowers until December

Borrowers from non-banking financial institutions will benefit from a flexible loan repayment facility until December this year.

Today the BB issued a notice, stating that borrowers who are struggling to repay their loans will benefit from the relaxed facility due to the recent outbreak of the coronavirus pandemic and flooding in the northern and northern regions. is.

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According to the latest instructions from the BB, NBFI borrowers could avoid falling into the defaulted loan category by repaying half of the loan payable for the April-December period.

Customers will have to pay half of the amount to be paid every quarter during the period mentioned by the central bank.

The eased facility will have to be provided to borrowers who are facing the crisis to repay their loan installments due to the pandemic.

In addition, the company, which is now in a week’s cash position, will not be allowed to obtain the support.

The NBFI-customer relationship can be tracked to extend support.

These conditions will not apply to borrowers affected by the floods in the handicrafts, micro, small and medium-sized enterprises and agriculture sectors.

NBFIs will not be permitted to transfer unrealized interest on loans receiving deferral support as income.

The central bank’s decision came after the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the country’s top trade body, pushed for a relaxed loan classification policy until December.

The banking regulator issued a separate notice to bank customers on June 22, allowing them to benefit from a relaxed loan repayment facility.

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