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Bangladesh Bank yesterday said borrowers of non-bank financial institutions (NBFIs) would not become defaulters until December if they pay 50 per cent of their loans’ instalment.
The central bank took this decision given the ongoing business slowdown brought on by Covid-19.
Borrowers will have to pay the rest of the amount of instalments within one year after completion of the repayment tenure of the loans. NBFIs will not be allowed to transfer their unrealised interest or profit to their income segment during the given period mentioned by Bangladesh Bank.
This means only the interest amount, which is recovered from clients, can be added to the income segment, the notice said.
A central bank official said that a good number of clients in the NBFI sector were now facing a bad state of affairs due to the ongoing economic slowdown. The latest instruction aims to help borrowers get a remedy for the crisis, he added.
(TDS)
