New borrowers excluded from interest suspension facility
The interest suspension would not be applicable against the credit facility which would be from April 1
The Bangladesh Bank exempted banks from suspending interest of the loans which were disbursed after March, a circular said on Monday.
Earlier on Sunday, the central bank asked all the scheduled banks to suspend interest on all types of loans for April and May.
It also instructed the banks to transfer the suspended interest on loans to an interest-free blocked account.
But Monday's circular said that the interest suspension benefit would only be applicable against the outstanding loans as of March 31 this year.
The interest suspension would not be applicable against the credit facility which would be from April 1.
An official of the central bank said that the individuals and entities received bank loans in April amid the coronavirus outbreak would not be considered for the facility.
"The individuals and entities were well-aware about the existing scenario and definitely have the capacity to repay. Otherwise, they would have refrained from taking the credit risk," he said.