Bangladesh Bank circular
Extended lockdown: 10am to 1 pm banking hours to continue
Bangladesh Bank has further extended the currently maintained limited banking transaction hours until May 5 in compliance with the government’s decision to extend the strict lockdown for one week more.
According to a Bangladesh Bank circular, issued on Wednesday, the current banking transactions hours from 10 am to 1 pm will continue till May 5 in accordance with the Cabinet Division’s memo on this matter.
Earlier, Bangladesh Bank in a circular on April 13 said, instructed the banks to operate general transactions from 10 am to 1 pm and keep open until 2:30 pm for necessary works every working day until April 21 and then it was extended until April 28.
Normally, banks operate from 10 am to 4 pm everyday.
Also read: Bangladesh extends lockdown until May 5
The new circular also said that all other instructions will remain unchanged as per the circular of April 13 where it was said that banks can keep one non-AD branch open within 2 km radius in the city corporation areas and in upazila level one branch of each bank can open on Thursday, Sunday and Tuesday.
The banks have to take measures to provide transport facilities for the staff during the period.
The BB circular also said, during the banking transaction hours, the banks have to ensure different kinds of services including clearing of cheques, withdrawal and deposits of money, money transfer, release of remittance, encashment of different instruments and also receipt of the payments of bills of different utilities.
BB said banks have to continue services like disbursement of loans, incentives, payment of salaries of different industries and also the purchase of export bills, loan sanction and distribution.
Also read: Covid-19: Bangladesh sees 77 deaths, new cases 2,955
The banks have to follow instructions in keeping the branches located in the port areas about the coronavirus in discussion with the local administration and other authorities, as per circular issued on August 5 last year, it said.
The banks have to operate their activities through limited staffs under a roster system.
They have to ensure operation of the ATM booths to facilitate transaction through cards by supply of adequate cash in the machines while the evening banking and weekly holiday banking activities will remain closed until further order, said the circular, said the circular issued on April 13.
Bank borrowers’ repayment relaxed until June 30
Bank borrowers can repay their loans until June 30 instead of the earlier deadline of March 31 without being defaulters.
A Bangladesh Bank circular, issued on Tuesday, gave this relaxation to the bank borrowers.
Also read: BB further relaxes loan repayments to financial institutions
It said the measure was taken considering the negative impact of coronavirus on Bangladesh's economy.
In the existing situation, those who will face trouble in repaying their loan installments by March 2021, can make their repayments until June 30 on the basis of bank-client relation.
Also read: BB relaxes loan repayment method for coronavirus
“In this case, their loans would not be classified,” it said, adding that other policies will remain applicable in case of calculating the loans, lease, interest on advances and profits while no penalty interest or extra fee will be charged.
Lockdown climbdown: Banking hours from 10AM-1PM confirmed in late directive
Changing the previous day’s decision on closure of banks, Bangladesh Bank on Tuesday took a fresh decision that banks will operate from 10 am to 1 pm for general transactions from April 14 to April 21 during the 'all-out lockdown' declared by the government.
The banks can remain open up to 2:30 pm for execution of other required activities, said a Bangladesh Bank circular, issued at 8 pm on Tuesday.
They can keep one non-AD branch open within 2 km radius in the city corporation area and in upazila level one branch of each bank can open on Thursday, Sunday and Tuesday, it said.
Also read: People’s lives come first: PM Hasina
The banks have to take measures to provide transport facilities for the staff during the period.
The BB circular also said, during the banking transaction hours, the banks have to ensure different kinds of services including clearing of cheques, withdrawal and deposits of money, money transfer, release of remittance, encashment of different instruments and also receipt of the payments of bills of different utilities.
BB said banks have to continue services like disbursement of loans, incentives, payment of salaries of different industries and also the purchase of export bills, loan sanction and distribution.
Also read: Bangladesh’s complete lockdown set to begin on Apr 14; notification issued
The banks have to follow instructions in keeping the branches located in the port areas about the coronavirus in discussion with the local administration and other authorities, as per circular issued on August 5 last year, it said.
The banks have to operate their activities through limited staffs under a rostering.
They have to ensure operation of the ATM booths to facilitate transaction through cards by supply of adequate cash in the machines while the evening banking and weekly holiday banking activities will remain closed until further order, said the circular.
Cinema hall owners to get Tk 1,000 cr low-interest loans
Cinema hall owners will get Tk 1,000 crore long-term soft loans under the refinancing scheme of Bangladesh Bank to construct modern cinema halls and also renovate the old ones.
BB further relaxes loan repayments to financial institutions
Bangladesh Bank has brought another relaxation in repayment of loans by allowing the borrowers to make their due payments to financial institutions in more installments considering the Covid-19 effects.
Working capital loan fund under Covid-19 stimulus package raised to Tk 40,000cr
The amount of working capital loan for Covid-19 affected industries and service sectors under the Prime Minister’s announced Economic Stimulus Package has been raised to Tk 40,000 crore from Tk 33,000 crore, a Bangladesh Bank circular said Thursday.
Central bank lowers provisioning against unclassified loans to boost consumer spending
Banks and other financial lenders will now have to maintain 2 percent general provision against unsecured loans instead of the earlier 5 percent. Unclassified loans are those that the lender considers to be at high risk of default.
A Bangladesh Bank circular, issued on Tuesday, said that with a view to meeting emergent demand of consumer loans and to encourage the participation of lenders in this segment, it has now been decided that the banks will have to maintain 2 perce
Bank branches to remain closed on Tuesday in election areas
Bank branches will remain closed on Tuesday in parts of the country where elections and by-elections to different upazila and union councils will be held on the day, said a Bangladesh Bank circular.
Sept 26 Pabna-4 polls: Local bank branches to remain closed
The local branches of scheduled banks will remain closed on September 26 (Saturday) in areas under Pabna-4 parliamentary seat which will go to by-polls.
Writ challenges BB circular on single-digit loan interest
A writ petition was filed with the High Court on Sunday challenging a Bangladesh Bank circular that fixed 9 percent loan interest.