The Bangladesh Bank (BB) today extended the deadline for shipbuilders to reschedule their defaulted loans by one month through a down payment of 2.5 percent.
The central bank said shipbuilders would have to apply for the rescheduling of their loans within December 31.
This is the third time since June that the BB has granted more time for shipbuilders to regularise their loans.
In a circular yesterday, the central bank said a good number of borrowers could not take advantage of the benefit for various reasons.
Since they could not apply for rescheduling, it extended the deadline until December 31 this year.
As of December 2022, the amount of non-performing loans (NPLs) in the shipbuilding and ship-breaking industry stood at Tk 4,760 crore out of a total of roughly Tk 21,220 crore in outstanding loans, according to the banking regulator’s Financial Stability Report.
The ratio of NPLs in the sector was 3.95 percent of the total defaulted loans in the country.
Daily Star
My goodness, what open stealing and cheating? Now, even the “police” (e.g. Bangladesh Bank in this case) is making excuses for the “thieves” (the borrowers here); Not onlt that on this made up lame excuse, BB is even extending loan defaulters’ time to pay off their loans, thus giving them further time to take the money out of the country and even take more loans (by making them non-defaulters). What a scam? Bangladesh should be given the “Miss Universe” award equivalent for coming up with newer and newer ways to cheat the public out of their votes and money.