Mohammad Mufazzal
Investors who availed loan facility under the capital market re-financing scheme have paid back more than Tk 1.35 billion including interest, officials said.
Under the capital market re-financing scheme, over Tk 4.87 billion was disbursed against the portfolios of the investors who were affected during the 2010-11 stock market debacle.
"Out of Tk 4.87 billion, over Tk 1.35 billion has already been paid back by the investors. And over Tk 1.04 billion has also been re-funded to the government," said Mohammad Saifur Rahman, an executive director of the Bangladesh Securities and Exchange Commission (BSEC).
Meanwhile, the supervisory committee of the capital market re-financing scheme extended on Thursday the timeframe to apply for the loan facility until September 30 next from the existing deadline which will end on June 30 next.
After the 2010-11 stock market debacle, the BSEC announced the capital market re-financing scheme to help the affected investors.
Later, the ministry of finance (MoF) formulated the guideline of the bailout package and made the announcement of disbursing Tk 9.0 billion in three instalments.
Out of Tk 9.0 billion, the ICB received Tk 6.0 billion through two instalments from the Bangladesh Bank (BB) by January, 2015.
Recently, the central bank has disbursed the remaining Tk 3.0 billion to the ICB (Investment Corporation of Bangladesh).
Out of Tk 9.0 billion, Tk 4.87 billion was distributed by the ICB among margin loan providers such as merchant banks and stock brokers.
Those institutional investors disbursed the funds, taken from the ICB, against their clients' margin accounts.
BSEC executive director Mohammad Saifur Rahman said the affected investors are being attracted to avail the loan facility under the re-financing scheme.
"That's why we have extended the deadline to apply for the loan facility. The documentation for loans worth Tk 300 million more has also been completed," Mr Rahman said.
He expressed his hope to utilise the total fund for the interest of investors who were affected during the 2010-11 stock market debacle.
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