Regulatory Alerts2020-07-05
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BRPD Circular No. 15: Loan Rescheduling of Leather Sector for the Purpose of Purchasing Raw Hides
Bangladesh Bank authorizes scheduled banks to reschedule irregular loans and investments of leather sector borrowers for purchasing raw hides from Eid-ul-Adha sacrifices, requiring a minimum 2% down payment in cash as of June 30, 2020. Rescheduling terms include a one-year grace period, up to six years for call and running loans, and up to eight years for term loans, with relaxed criteria for compromised amounts on new lending. Borrowers must submit applications to their respective banks by July 30, 2020, and these instructions take immediate effect under Section 45 of the Bank Company Act, 1991.
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