Bangladesh Bank has further extended its relaxed loan repayment system until 30 September taking into consideration the impact of coronavirus on the country's trade and business, reports UNB.

According to a circular issued by the central bank on Monday, classification of loan will not be changed between 1 January and 30 September this year even if anyone failed to pay back the loan as per the schedule.
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Earlier, the facilities were applicable until 30 June as per circular issued on 19 March this year.

The new circular, issued by its banking regulation and policy department (BRPD), said businesses in Bangladesh were affected like other parts in the globe due to the coronavirus outbreak.
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It is assumed that many loan recipients may not be able to repay their loans as per the schedule, it said.

In such a situation, there is an apprehension that the trade and businesses might be affected and the overall employment might be impeded.
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Considering the situation, this was decided that the classification of any loan will remain unchanged until 30 September and will be treated as it was from 1 January, mentioned the BB circular.

But if the classification of the loan is improved, it could be upgraded by this time, it added.