A BB notice on Thursday said the rescheduling can be availed through a 2 per cent down payment on outstanding loans and the facility can be availed until August 31. COURTESY
Leather traders now can reschedule their defaulted loans after paying a minimum 2 percent down payment and get fresh loans for purchasing raw hides during and after the Eid-ul Azha.
The Eid, which is due to be observed on July 10, accounts for around half of the rawhide the country generates annually.
A good number of rawhide traders have become loan defaulters because of the economic fallout of the coronavirus pandemic, the Russia-Ukraine war, and the recent floods in the north-eastern region of Bangladesh.
A BB notice on Thursday said the rescheduling can be availed through a 2 per cent down payment on outstanding loans and the facility can be availed until August 31.
Businesses, which earlier put up the required collateral with banks to manage loans, will be permitted to enjoy the facility.
Rawhide traders will be able to get new loans from banks on regularising their non-performing loans. Banks, however, can consider offering new loans based on their relationship with the customers concerned.
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