TDS Desk:

Bangladesh Bank is set to introduce a special loan rescheduling scheme for genuinely affected defaulters, providing extended repayment periods and interest waivers.

For this, the central bank aims to issue a formal notification soon, with a transparent process to ensure only deserving borrowers benefit.

The decision comes amid appeals from business organizations, as many industries were hit hard by the recent political upheaval, production disruptions, and the Russia-Ukraine war.

Previous government crackdowns also forced several entrepreneurs to default on their loans. To address this, the central bank has formed a committee to review applications and identify eligible borrowers, excluding willful defaulters and politically influenced loans.

Mohammad Shahriar Siddiqui, a director at Bangladesh Bank, confirmed that banks will recommend cases to the committee, which will assess loans classified due to uncontrollable circumstances.

Experts, while welcoming the move, stressed the importance of impartiality and strict adherence to rules for positive outcomes.