National Bank needs BB approval to issue loan over Tk10cr
The National Bank will have to take permission from the Bangladesh Bank from now on to issue more than Tk10 crore in loans to a single borrower.
The move is meant to protect interest of the bank's depositors and ensure proper implementation of the memorandum, according to a notification issued Monday (23 Monday)
Besides, the National Bank will not be able to renew old loans without collecting due installments.
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However, such directives of the central bank are not new in the case of the National Bank.
Earlier, the central bank stopped the bank's loan disbursements. The restrictions were later relaxed under pressure from a top client of the private sector bank.
