Cenbank continues 1% timely loan repayment incentive for women entrepreneurs
Previously, this facility was available until December 2024
The Bangladesh Bank has directed all banks and financial institutions to continue offering a 1% incentive to women entrepreneurs in the SME sector who repay their loans on time.
The central bank issued a circular today (8 January) extending this benefit from January to support the women entrepreneurs until further notice.
Previously, this facility was available until December 2024.
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According to the circular, recently, the fund for this scheme was doubled to Tk3,000 crore.
Introduced in 2019, the scheme initially allowed both male and female entrepreneurs to access loan benefits. However, it was later restricted to women entrepreneurs in the SME sector.
Under the programme, banks were allowed to charge a maximum of 5% interest on the loans, the circular stated.
The conditions for incentive stated that no incentives can be provided against classified loans.
While determining the amount of the incentive, all regular loans, the amount of investment, and the duration of usage must be taken into account, it added.
