Mahmud Hossain Opu/Dhaka TribuneCurrent loans could be rescheduled for a maximum six years and term loans for as long as eight years with one year grace periodLeather traders now can reschedule their defaulted loans after paying a minimum 2% down payment and get fresh loans for purchasing raw hides during and after the Eid-ul Azha. “Banks can reschedule loans of leather traders as of June 30 this year against a minimum 2% down payment for a maximum period of eight years with one year grace period,” said a Bangladesh Bank circular issued on Sunday. Current loans could be rescheduled for a maximum six years and term loans for as long as eight years with one year grace period, it clarifies. Traders will have to apply for rescheduling their defaulted loans to their dealing banks within July 30. A high official of the central bank has said some loans or investment in the leather sector were classified due to non-repayment for various reasons.

Source: Dhaka Tribune July 05, 2020 13:18 UTC