Govt extends timeframe to apply for loan facility till March 31

The supervisory committee of the capital market refinancing scheme has extended the timeframe to apply for loan facility till March 31, 2018 from existing deadline which ends on December 31, 2017.

The deadline was extended on Sunday at a meeting of the supervisory committee of the refinancing scheme.

Mohammad Saifur Rahman, an executive director of the securities regulator, said the committee extended the timeframe to ensure complete utilisation of the fund earlier disbursed by the government.

"The government has also reduced the interest rate on loans under refinancing scheme following the plea made by borrowers," Rahman said.

After 2010-11 stock market debacle, the central bank disbursed Tk 9.0 billion to Investment Corporation of Bangladesh (ICB) through three equal installments to reduce the sufferings of affected investors.

Some Tk 2.57 billion is yet to be disbursed against the portfolios of affected investors.

As per Sunday's decision, investors who have not applied so far to avail loan facility under refinancing scheme will get priority.

"The borrowers who availed loan facility once will also be allowed to apply for loans," Rahman said.

The government recently reduced the interest rate on loans to 6.0 per cent from 7.5 per cent under the refinancing scheme.

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