BAD LOAN RESTRUCTURING

BB to issue new guideline soon: Mustafa Kamal

Staff Correspondent | Published: 01:42, May 09,2019

 
 

The finance minister, Mustafa Kamal, on Wednesday said that the new guideline on restructuring of bad loans would be issued by the Bangladesh Bank soon.
It will be issued before the placement of budget for the next financial year on June 13, he said while replying to a query.
The government has prepared the new guideline amid criticisms that it would offer restructuring of bad loan on further relaxed conditions and would be misused by wilful and large loan defaulters.
Mustafa Kamal had earlier said that the new loan restructuring guideline with the provision of 9 per cent interest against the current 11-12 per cent would come into effect from May 1.
He did not say any reason for the delay in issuing the guideline.
Mustafa Kamal said that he would announce measures on the country’s stocks market in his budget speech.
Answering another question, the finance minister said that the preparation of budget was not challenging.
The implementation of the budget is most challenging, he said.

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