Bangladesh Bank has extended time of loan rescheduling for leather industries, relocated at Tannery Industrial Estate in Savar, under a special facility til June 30, 2021.
The Banking Regulation and Policy Department (BRPD) of the central bank issued a circular in this regard on Monday with immediate effect. It was sent to the top executives of all banks. The earlier date was March 31.Bangladesh Bank said the second wave of COVID-19 already have had adverse impacts on the leather sector like other businesses in the country.
The leather traders might face an unusual situation if the loan repayment facility would not be extended, it said.
The BB circular said the entities of the leather sector which have already received loan restructure, rescheduling and interest waiver will be considered illegible to get the new exit policy.
The special rescheduling facility for the leather sector entities that were relocated to Savar will get the opportunity to regularise loans on 2 percent down payment. The borrowers of the sector will have to apply to the respective banks by June 30, 2021 to enjoy the facility, said the central bank.