Coronavirus: BB announces special benefits for borrowers

Bangla Tribune Report
Published : 16:16, Mar 19, 2020 | Updated : 16:19, Mar 19, 2020

Bangladesh BankThe Bangladesh Bank has asked scheduled banks not to classify borrowers’ loans till June this year, even if they do not repay the loan installments owing to crisis of coronavirus outbreak.

The central bank issued a circular for managing directors and CEOs of all the scheduled banks in the country in this regard on Thursday (Mar 19).

As a result, if a borrower fails to repay the installment of his or her loans by June, they will not be classified as defaulters as per BB circular.

The central bank took the decision as the coronavirus pandemic cast a negative impact on trade and commerce in the country, the BB circular added.

The circular also said the country’s overall economy, including import and export, has been adversely affected by the global Covid-19 outbreak.

As a result, many borrowers would be unable to repay the loans on time, it added.