Further exemption on provisioning against stock losses demanded

Bangladesh Bank has assured bankers of considering a plea to extend the exemption by one more year of provisioning against the losses they sustained through investing in the capital market in 2010. The central bank would take the decision in this regard and inform the bankers soon. At the bankers meeting Monday, the bankers demanded of the central bank to extend the exemption so they could offer increased dividend for the shareholders. The present exemption expires on December 31, and thereafter, the banks will have to adjust the provision shortfall in four quarters. The bankers also demanded allowing banks to offer cash dividend to the shareholders now prohibited as a pre-condition of the exemption.