Circular No. 12 dated 20 June 2023 issued by the Banking Regulation and Policy Department of the Bangladesh Bank on “Loan Rescheduling for the Shipbuilding Industry”July 4, 2023
The Bangladesh Bank has introduced a loan rescheduling facility aimed at providing relief to the country’s shipbuilding industry, which has been adversely impacted by the COVID-19 pandemic and the volatility in the global economy. This policy allows banks to reschedule defaulted loans for borrowers in this sector, granting them a period of 10 years, including a grace period of two years. To access this facility, borrowers are required to make a down payment of 2.50%.
Loans obtained through fraudulent activities or irregular means will not be eligible for the rescheduling facility. In such cases, banks are authorized to initiate legal action against borrowers who fail to repay their loans within the specified timeframe, as per the notice issued by the Bangladesh Bank.