Mon, December 2, 2024
[ Mon, Dec 02nd 2024 ]: Bill Williamson
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[ Mon, Dec 02nd 2024 ]: Bill Williamson
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Sun, December 1, 2024
[ Sun, Dec 01st 2024 ]: Bill Williamson
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Cenbank extends usance term for capital machinery imports

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The central bank has also ordered an extension of loan tenures for institutions with existing medium and short-term agreements to import capital machinery while prohibiting any increase in interest ra
The Bangladesh Bank has extended the repayment period for foreign exchange loans used for importing capital machinery from 18 months to 36 months, as announced in a circular on March 27, 2023. This decision aims to ease the financial burden on importers amidst global economic challenges, including the Russia-Ukraine war and the ongoing effects of the Covid-19 pandemic. The extension applies to both new and existing loans, with the condition that the machinery must be imported within the original 18-month period. This move is part of broader efforts to support industrial growth and economic stability by providing more flexible financing options.

Read the Full tbsnews Article at:
[ https://www.tbsnews.net/economy/banking/cenbank-extends-machinery-import-foreign-exchange-loan-tenure-1007331 ]