Special loan facility in leather industries time increased

Bangladesh Bank has extended the application period for loan restructuring and rescheduling under the special facility for repaying bank loans of leather industrial establishments relocated to Savar Leather Industrial City.

Companies will be able to take advantage of this with down payment till September 30. Bangladesh Bank has given this opportunity to facilitate the adverse effects of corona and collection and preservation of sacrificial animal skins.

The circular was issued on Tuesday (June 22) by the Banking Regulation and Policy Division of Bangladesh Bank.

The circular sent along with the CEOs and Managing Directors of all the commercial banks in the country said, “The application was scheduled to be submitted by June 30, subject to cash payment for down payment by the customer who wants to avail the restructuring / rescheduling facility.”

‘Considering the adverse effects of Covid-19 in the second phase and the collection and preservation of raw hides of sacrificial animals for the upcoming Eid-ul-Azha, the customer who wishes to avail the aforesaid exit or restructuring / rescheduling facility has to submit the application for submission of cash by 30 September. Was increased to. The other instructions given in BRPD Circular No. 01/2021 will remain unchanged. The directive was issued under the powers conferred by Section 45 of the Banking Companies Act, 1991.

Earlier, on January 6, the central bank had directed that at least 2 percent of the loan balance should be given as down payment till December 31, 2020, subject to recovery in cash. In this case, till December 31, 2020, all the institutions whose loan balance is up to Tk 5 crore, can be given a maximum period of 3 years to repay the liabilities. Institutions whose loan balance is more than Tk 5 crore can be given a maximum of 5 years to repay their debts.

Sunbd/NJ