Bangladesh Bank on Tuesday took a relaxed credit policy for the raw jute exporters who are inflicted with debt crisis.
The BB issued a circular to managing directors and chief executive officers of all scheduled banks asking them to transfer the disbursed loans for the raw jute exporters to the block accounts.
The BB asked the banks to impose a fresh interest rate equivalent to their (banks’) cost of fund on the raw jute exporters.
The banks include cost of fund and administrative cost to set their respective interest rate.
The raw jute exporters will be able to repay the loan within 10 years and will also get a two-year grace period in line with the new policy.
The BB asked the banks to give the new facility to the exporters based on their credit outstanding as of March 31.
The banks will withdraw the cases against the exporters following the alternative dispute resolution.
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