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Main correspondent The | Banglanews24.com
Dhaka: In this situation of the Corona virus, the collection of interest and profits collected on all types of loan investments has been extended for another three months. Bangladesh Bank has led the block transfer for three months. This interest cannot be recovered until further notice.
On Monday (May 4), Bangladesh Bank issued a notice regarding this and sent it to the Managing Director and CEO of all scheduled banks.
Earlier on Sunday (May 3), the central bank said in a notice that it would have to stop charging interest for two months, from April 1 to May 31. A new notice Monday said no interest would be charged for three months from March 1 to May 31.
Furthermore, all the above conditions have been maintained in the notification.
He said that given the business situation caused by the corona virus, the interest / earnings collected / applicable on all types of bank loans / investments from March 1 to May 31 of this year should be transferred as’ blocked without interests’. Interest / benefit transferred as blocked cannot be recovered from the borrower / investor until further instructions are given and such interest / benefit cannot be transferred to the bank account. If a bank has already transferred interest / earnings to the account, it must be adjusted using the reverse entry. The previous interest / benefit adjustment to be kept / kept locked will be reported later.
The government has announced several financial incentive packages, including low-interest loans / investment facilities through the banking system, to revive and keep afloat the country’s economic activities in the face of the possible economic impact due to the outbreak of the coronavirus (Cavid- 19).
*** 2 months discount on interest on all types of loans
Bangladesh time: 1832 hours, May 4, 2020
SE / TA
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