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Bangladesh leather sector gets deadline reprieve from central bank
19 Apr '21
1 min read
Pic: Shutterstock
The Bangladesh Bank (BB) has extended the special loan rescheduling facility by three months for leather sector units relocated in the Savar Leather Industrial Park on the outskirts of Dhaka. A BB circular on April 12 extended the application submission deadline to June 30. The bank has allowed the facility in wake of the second wave of the pandemic.
Earlier, on January 6, the central bank had set March 31 as the deadline. "The fresh wave of coronavirus has raised concern among the businesses of being affected again that prompted the central bank to extend the deadline for filing loan rescheduling applications," the BB said in a statement.
The leather sector entities that have already received loan restructures, rescheduling and interest waiver facilities will be considered eligible to get the new exit policy. The government had come up with the policy with a view to bringing down rising non-performing loans in the country’s banking sector. It allows banks to waive interest charged on the borrowers.
Earlier, on January 6, the central bank had set March 31 as the deadline. "The fresh wave of coronavirus has raised concern among the businesses of being affected again that prompted the central bank to extend the deadline for filing loan rescheduling applications," the BB said in a statement.
The leather sector entities that have already received loan restructures, rescheduling and interest waiver facilities will be considered eligible to get the new exit policy. The government had come up with the policy with a view to bringing down rising non-performing loans in the country’s banking sector. It allows banks to waive interest charged on the borrowers.
Fibre2Fashion News Desk (SG)
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