All borrowers can now enjoy loan moratorium

Borrowers who rescheduled their defaulted loans under the relaxed policy of the Bangladesh Bank (BB) in 2019 are now permitted, like other customers, to enjoy loan moratorium facilities, BB officials said.

In addition, according to a clarification provided by the central bank on Wednesday, clients who have used the 'One Time Exit' facility are now eligible to obtain a maximum of 180 more days to change their dues.

The BB explained that all borrowers will be liable for a credit moratorium facility to compensate for the adverse effects of the ongoing Covid-19 pandemic on the country's overall business activity.

In order to help companies tackle the crippling effects of the pandemic, the central bank has already suspended the guidelines for the classification of loans from January 1 to December 31 of this year.

The central bank provided a special facility to loan defaulters on May 16 last year, enabling them to reschedule loans by paying a down payment of 2.0 percent for a period of 10 years.