Five crisis-hit banks expected to get three more months to pay back loans
A proposal has been sent to the central bank governor to extend their loan repayment deadline by three months, according to central bank officials familiar with the matter
The Bangladesh Bank is expected to extend the loan repayment period for distressed banks that failed to clear the first tranche of loans borrowed under the central bank's guarantee.
A proposal has been sent to the central bank governor to extend their loan repayment deadline by three months, according to central bank officials familiar with the matter.
The banking regulator entered into agreements with five crisis-hit banks to provide them with guarantees for obtaining liquidity support from the interbank money market on 22 September.
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The banks are the National Bank, Social Islami Bank, First Security Islami Bank, Union Bank, and Global Islami Bank.
These banks initially received a guarantee of Tk900 crore under the condition that they would have to pay it back in three months, which ended last week. However, they failed to do so.
