Bangladesh'S Sluggish Clothing And Garment Enterprises Will Receive Assistance From Banks.

The Bangladesh government recently announced a policy that would help poor business conditions.

Shafiqul Islam Patwary, head of the banking department, said they had approved an exit.

For borrowers, if they want to cancel the loan, they must apply to the bank within two months of issuing the order.

In addition, the units with unpaid loans less than 50 million Taka must repay the same amount of loans within 5 years, and the units with outstanding loans exceeding 50 million Taka must repay the same amount in 10 years.

According to a recent circular, the official said that the borrower would receive a one-year extension of time, and the bank would calculate the borrower's debt after adding interest to the principal.

Interest, not part of the bank's income, will be abandoned, but the principal and legal costs will not be abandoned.

In addition, banks are authorized to decide their own cost of capital.

In addition, bank officials point out that borrowers must pay on a quarterly basis. If they do not pay in installments four times in a row, the preferential measures offered to them will be withdrawn.