Borrowers of NBFIs will enjoy same moratorium facilities to repay loan
The Bangladesh Bank has also given a six-month moratorium on loan repayments for the borrowers of non-bank financial institutions (NBFI), in a bid to protect the economy from the shock of the coronavirus fallout.
The central bank on Tuesday issued a circular asking all NBFIs not to classify any lease or loan till June 30, even if a borrower fails to repay money.
"Considering the fallout on the economy borrowers will not be able to repay loans on time because of negative impacts of coronavirus. That is why the central bank took the decision," said a central bank circular.
Keep updated, follow The Business Standard's Google news channel
A moratorium period is a time during which a borrower doesn't need to make any repayment.
During this time if any borrower failed to pay the loan he or she will not be a defaulter.
On March 19 the Bangladesh Bank issued another circular for banks' borrowers giving the same facilities.
On Tuesday the Bangladesh Bank has issued another circular to gear up life savings drug import.
Now any importer will get 90 days extended time to pay the bill on import of life saving drugs. Before this an importer could get only 90 days to pay the bill.
