Summary:

Shipbuilders in Bangladesh have been given an extra month to reschedule their defaulted loans. The Bangladesh Bank has extended the deadline to apply for rescheduling until December 31. To be eligible for the scheme, shipbuilders will need to make a down payment of 2.5 percent.

Content:

The central bank recently gave a group of borrowers in the shipbuilding industry more time to pay back their loans. This is the third time in a few months that the bank has extended the deadline for these borrowers. Initially, the bank offered a 10-year period for borrowers to repay their loans, but many were not able to take advantage of this opportunity for various reasons. The deadline has now been extended until the end of this year. According to the latest report, there are a significant number of loans in this industry that have not been paid back, with a total amount of roughly Tk 21,220 crore. This is a concern for the banking regulator, as it contributes to the country’s overall defaulted loans. The non-performing loans in the shipbuilding and ship-breaking industry make up 3.95 percent of the country’s defaulted loans

Picture and Article Sources: The Daily Star