Bangladesh Leather Sector Given 3 Month Loan Extension

15 April 2021

A Bangladesh Bank circular issued on the day extended the application submission deadline to June 30, 2021. According to the circular, the scope was extended due to the country going through a fresh wave of the COVID-19 outbreak.

The rise in coronavirus cases raised concerns among businesses, prompting the central bank to extend the deadline for filing loan rescheduling applications. The leather sector entities that have already received loan restructures, rescheduling and interest waiver facilities will be considered eligible to get the new exit policy. The policy also allows banks to waive interest charged on the borrowers.

The government had come up with the policy with a view to bringing down soaring non-performing loans in the country’s banking sector.

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