Bangladesh Bank (BB) on Wednesday relaxed term loan repayment policy for non-bank financial institutions (NBFIs) after relaxing such policy for banks’ borrowers, reports UNB.
The borrowers would not be declared as defaulter if at least 50 percent of the installments are paid as of September, according to a notice of the central bank.
The rest of the installments could be repaid on a monthly or quarterly basis within one year after the current repayment schedule of the loan.
The loan repayment relaxing policy would also be applied for the funding in investment of shariah-based financial institutions. If borrowers fail to repay the loans, lease and investments within the new repayment schedule, they would be classified as per rules, the BB notification said.
The circular stated that the NBFIs are facing difficulties in realising installments on time as the cash flow to SMEs and large enterprises has been affected by the Russia-Ukraine war and global recession.
