Regulatory Alerts2018-10-17
Added · Updated
BRPD Circular No. 12: Providing special financial policy assistance for the agriculture and SME sectors' borrowers affected by the recent Padma river erosion
The circular mandates scheduled banks in Bangladesh to reschedule loans for agriculture and SME borrowers affected by Padma river erosion in Shariatpur district, allowing up to six months of grace period and waiving down payments based on bank-customer relationships. Banks are instructed to prioritize loans for alternative crops at a 4% concessional interest rate, waive interest for completely destroyed assets of impoverished farmers in accordance with Ministry of Finance decisions, and suspend the filing of new certificate suits or stay existing certificate suit demands for six months to prevent default classification. These measures, which also require strict monitoring to ensure timely access to new credit without harassment, are effective immediately and remain valid until March 31, 2019.
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