Bangladesh Bank relaxes rules for EFPF loan payment
The money taken under the EFPF has rules for one-time repayment along with interest at the end of the term.
The Bangladesh Bank on Wednesday (13 September) relaxed the settlement rules of funds businessmen have taken from the Export Facilitation Pre-finance Fund (EFPF).
The money taken under the EFPF has rules for one-time repayment along with interest at the end of the term.
The Banking Regulations and Policy Department of the central bank issued a circular in this regard and sent it to the Managing Directors and Chief Executive Officers of all scheduled banks for immediate execution.
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The central bank has relaxed this rule after businessmen argued for a partial payment opportunity to reduce the interest expense of the fund.
From now on, EFPF will be able to pay part or all the money before the expiry of the term if the bank wants.
