2024-09-02 17:08:34
Senior Correspondent || risingbd.com
Published: 10:22, 2 September 2024
Domestic political and global economic conditions have disrupted the business environment. As a result, the production activities of export-oriented industries are being hindered. In consideration of these, the owners of the industrial sector will get special loan facility to pay the salaries and allowances of the workers of the active export-oriented industries. No additional interest, profit, fee or charge shall be paid other than the interest on this loan.
On Sunday (September 1), the Banking Regulations and Policy Department of Bangladesh Bank has issued a circular in this regard.
According to Bangladesh Bank, the recent domestic political and global economic environment has disrupted the business environment. Due to this, the production activities of export-oriented industries and timely repatriation of export value are being hindered. In such a situation, the employees of the organization are not able to pay their salaries. Loan facilities will be provided to export oriented industries to maintain the production capacity and continue the export momentum.
Things to be followed to avail this loan facility –
For the payment of salaries and allowances for August 2024, workers of active export-oriented industries will be provided with term loan facilities based on banker-customer relationship based on the customer’s ability beyond the current capital loan limit. The amount of loan facility shall not exceed the average salary and allowances paid by the borrower industrial establishment for the last three months.
Those industries which export at least 80 percent of the total production are export oriented industries and those industries which have paid the salaries of their workers for the month of May to July are considered active. Being active and export-oriented, the relevant representative trade organization (BGMEA, BKMEA etc.) should take the certificate. The prevailing market rate of interest will be applicable against the loan.
The customer’s total credit including loans must be within the single customer credit limit; The bank can collect the loan money in installments (monthly/quarterly) in maximum 1 year with a grace period of 3 months in the form of term loan and cannot take any additional interest, profit, fee and charge other than the interest of this loan.
NF/TPU