Four SoCBs to give Tk 5.65b loans to buy rawhides

Four state-owned commercial banks (SoCBs) are set to provide around Tk 5.65 billion as loans among tanners to help them purchase rawhides of sacrificial animals during the upcoming Eid-ul-Azha.
Officials of the SoCBs said they will provide such seasonal loans only to regular parties in line with their guidelines.
Under the SoCBs' existing guidelines, only the parties, who have repaid their previous dues, are qualified for getting fresh loans to purchase rawhides.
Those, who failed to repay their previous loans, are not entitled to receive fresh credits for the purpose, they added.
Among the banks, Sonali Bank Limited (SBL) is set to provide around Tk 1.0 billion to their clients for purchasing rawhides during the Eid, a senior official of the SoCB said.
"Our three parties have already submitted their proposals, seeking Tk 750 million for procuring rawhides," the official told the FE on Thursday.
The largest SoCB may extend such credit to new parties, if they fulfill requirements, he added.
SBL disbursed Tk 650 million for purchasing rawhides during the last Eid-ul-Azha. The SoCB provided a total of Tk 2.01 billion for procuring rawhides throughout the calendar year 2015.
"We may enhance our allocation for buying rawhides during the upcoming Eid, if necessary," the SBL official also said.
Janata Bank Limited (JBL) is going to provide Tk 2.50 billion as loans among 23 parties this year for procuring rawhides.
The SoCB provided Tk 2.0 billion to the same parties last year, a senior official of JBL told the FE.
"We'll submit the loan proposals in the board of directors' meeting within next week for final approval."
He also said JBL will provide increased amount of such loans to parties, which have relocated their factories to Savar from Hazaribag in line with the government's deadline.
On the other hand, Agarni Bank Limited (ABL) is set to provide around Tk 1.30 billion as loan this year to three parties to buy rawhides, a senior official of the SoCB said.
He also said the bank provided the same amount of such loans to the same parties in 2015.
Rupali Bank Limited (RBL) is set to provide around Tk 850 million to four clients for purchasing rawhides during the upcoming Eid.
Talking to the FE, a senior official of the SoCB said RBL disbursed around Tk 800 million to the same parties last year.
Besides, Bangladesh Krishi Bank, City Bank Limited and United Commercial Bank Limited are set to provide different amounts of loan to their clients for purchasing rawhides during the Eid.
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