Rumi Akter Polly of DOT
 Finance Minister AHM Mustafa Kamal said the step aims at helping businessmen tide over the Covid-induced financial crisis, defending the central bank’s move for further relaxation of bank loan repayment system by extending the moratorium till December 31, reports UNB. While briefing on the outcome of the meeting of the Cabinet Committee on Public Purchase yesterday, he told the reporters, “If any steps are taken, somehow someone will be affected, but we’re in favour of the businessmen. If businessmen thrive, then banks will be running well. But this is the time to extend help to the businessmen.” On September 28, the Bangladesh Bank in a circular said that classification of loan will not be changed between January 1 and December 31 this year even if anyone failed to pay back as per the schedule.
Earlier, the moratorium was applicable till June 30. It was subsequently extended till September 30 through a similar circular issued by the central bank on June 15 this year.
The new circular, issued by its Banking Regulation and Policy Department (BRPD), said businesses in Bangladesh were affected like in other parts of the globe due to the coronavirus outbreak.
It is assumed that many loan recipients may not be able to repay as per the schedule, it said. In such a situation, there is an apprehension that the trade and businesses might be affected and eventually the overall employment scenario.
Considering the situation, this was decided that the classification of any loan will remain unchanged until December 31 and will be treated as it was from January 1, mentioned the BB circular.